Metric Definition¶
A metric definition records information about collecting data and preforming an analysis on that data to achieve business objectives. It is meant to help teams focus on their data to manage and control performance. The definition is used to support teams effort to meet company standards for data quality and transparency for the life of an effort. Using the template should enable a team to have consistent results, a shared understanding of the data and analysis, and increase the likelihood of achieving business objectives.
A metric definition should include the following:
- Organizational Goal/Objective
- Quantitative Goal/Objective
- An Example Visual Display if applicable
- A description of the measure
- The data collection method, frequency and storage
- Rules to maintain data integrity
- The methods to analyze the data
- Whom to report the measure to and how often