In an era defined by big data, metrics have too often become overused and misunderstood. There’s a desire among many business leaders to collect every piece of data that they possibly can about their business to arm them with information that can give them a leg up.
Then again, just as often there are those who feel overwhelmed by the very notion of data and instead look at simple markers like revenue, production, or even instinct to tell them how the business is doing.
Either way, the result can be detrimental. Too much information can leave you swimming in a sea of dirty or segregated data, not being able to see the forest through the trees. Too little and there’s a complete lack of visibility between your top and bottom lines, leaving you charging full steam ahead not knowing where you’re headed.Read More