managing by metrics
TRANSCRIPT
”“The minimum viable product is that version of a new product which
allows a team to collect the maximum amount of validated learning
about customers with the least effort.
- Eric Ries, Lean Startup
A measuring system that quantifies a trend, dynamic, or characteristic. Metrics encourage objectivity. They make it possible to compare; they facilitate understanding. Think benchmarks statistics and predictive indicators.
A way of monitoring and tracking the progress of strategic objectives. Measurements can be leading indicators of performance or lagging indicators. Common measurements such as product revenue, profits, product margin and product adoption rate are often referred to as key performance indicators or KPI’s.
METRIC
MEASUREMENT
Month 1 Month 2 Month 3 Month 1 Month 2 Month 3
Month 1 Month 2 Month 3 Month 4 Month 5Month 1 Month 2 Month 3 Month 4 Month 5
Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10 Day 11 Day 12 Day 13 Day 14