The difference between quantification, measure, metric, and KPI

Posted by asavkin under Strategy
From http://www.bscdesigner.com 3944 days ago

KPIs don't work for our business! There is no good understanding of what a KPI, a metric and a measure is and what the difference is between them. Let's fix the situation.

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Comments

Written by asavkin
3944 days ago

Do you remember in "Rich Dad Poor Dad" the difference between an investment and spending? Here is the same thing. People call everything KPIs, and then find out that KPIs don't work. The first reason of this problem is that they don't have KPIs, just metrics.

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Written by HeatherStone
3942 days ago

Thanks, Asavkin!

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Written by HeatherStone
3944 days ago

Aleksey,

Thanks so much for this helpful list of definitions and explanation. The distinction between KPIs and metrics especially is important. What do you see as the biggest problems with using these terms interchangeably?

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