Do you know how to find and fix misleading indicators that can hurt your business?
…just because you can obtain numbers from measuring does not mean the thing you think you are measuring actually exists…
There is a common saying that “if you can’t measure it you can’t manage it.” Many people mistakenly think the reverse is true, that if they can measure it, or something they call “it,” they can manage it. What they ignore is an old lesson from some of the greatest scientists—just because you can obtain numbers from measuring does not mean the thing you think you are measuring actually exists. What then are you managing? Businesses measure and create all sorts of indicators without asking whether they indicate what they think they indicate. Often they do not.
More than ever, managers must distinguish between trustworthy and untrustworthy indicators. Shareholders, financial markets, governments, customers, and activists are increasing the pressure to measure performance. The number of indicators is proliferating. The Internet, and enterprise software that produces indicators, are increasing management’s reliance on measurements to make decisions.
I will work with you to develop meaningful performance measurements, and to identify measurements and indicators that are useless, or even downright misleading. The ideas upon which my consulting work is based on described in my book, misLeading Indicators: How to Reliably Measure Your Business.
For over 20 years, I have advised major corporations and government agencies on measurement and statistical issues across the United States, Canada, South America, Europe and Asia.