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The Importance of Metrics Running Head: The Importance of Metrics . The Importance of Metrics University Of Phoenix Abstract Establishing metrics is crucial to any
Importance of Metrics Abstract Establishing metrics is crucial to any organization, especially in technology related company projects. Metrics permit organizations
Tom, and Andrei introduce you to the benefits of measuring Web traffic, exploring the importance of Web metrics, and describing various approaches of collecting Web
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measurements and use of marketing metrics is the way metrics to track performance of business. Everyone in the organization knows the importance of control function
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Running Head: The Importance of Metrics
.
The Importance of Metrics
University Of Phoenix
Abstract
Establishing metrics is crucial to any organization, especially in technology related company projects. Metrics permit organizations to measure its performance against industry sectors to determine how well the company is doing. Furthermore, metrics allow organizations to evaluate and improve the effectiveness and efficiency of its processes. Metrics are designated in different categories. The categories identified in this document include output, in-process, and people. (Duris 2003) The organization must first determine exactly what the company is trying to accomplish or determine. Metrics are then identified based on what is relative to the subject matter. Finally, metrics are verified when tracking progress against previous records or a company given standards or goals.
Importance of Metrics
Establishing metrics is crucial to any organization, especially in technology related company projects. Metrics can be defined as a system of parameters or ways of quantitative and periodic assess of a process that is to be measured, along with procedures to carry out such measurement and the procedures for the interpretation of the assessment in the light of previous or comparable assessments. The results of the metrics can be used to record trends, efficiency, capital, and etcetera. Metrics permit organizations to measure its performance against industry sectors to determine how well the company is doing. Metrics allow organizations to optimize its productivity.
Categories of Metrics
Categories of metrics differ according to the type of company and its goals. An article written by Paul Germeraad (2003), describes in detail different segments of metrics that are used in measuring Research and Development processes which is a critical technical competency....
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