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Relevancy of Metrics

Please respond with 100 word each question

1. Relevancy of Metrics-How often to collect and analyze?
There are often some organization that use their metrics to a competitive advantage. They collect metrics on a weekly basis and then use the monthly totals for sales forecasts, and supply chain management. How do you determine how often to collect and then analyze the data? Does this change in different industries?

2) Is Total Quality Management (TQM) still a valid concept/theory?
The TQM is somewhat antiquated and has been replaced by the ISO and Six Sigma standards, but it advocated to continuously look at your Key performance indicators (KPI's). The KPI's measure the effienciency of the processes, but should be adjusted continously based on the ideal and the actuals that can be achieved.

Do you think this still holds true? Should an organization continually update its metrics and performance levels?

3) Re: data + analysis + metrics = indicators of future direction?Buzzwords!!!

It is amazing how many of the latest business buzz words are repeated amongst multiple disciplines. Six Sigma, Quality Assurance, and many others.

Are there any other parallels in other types of business metrics measurements?
4) George Orwell wrote a book 1984?

There was a book written in 1949 by George Orwell named "1984" that forecasted the big brother is watching concept. It seems we arrived at the point where everything we do is monitored. Do you think we need to return to the days of a little privacy? or have we arrived into the totalitarian world of his 1984?

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Discussion questions for metrics.

Please respond with 100 word each question

1. Relevancy of Metrics-How often to collect and analyze?
There are often some organization that use their metrics to a competitive advantage. They collect metrics on a weekly basis and then use the monthly totals for sales forecasts, and supply chain management. How do you determine how often to collect and then analyze the data? Does this change in different industries?

Metrics are used by organizations to align their functions with their goals. Metrics are also used to optimize performance. A simple question as to how often should the metrics be collected can be answered with the reply that metrics should be collected and analyzed as often as they are required to align the business function. What is important is that the company should meet its strategic goals and objectives. Whether metrics are to be collected on weekly basis, monthly basis or hourly basis entirely depends on the requirements by the organization to improve its operational effectiveness. For, instance if a company needs sales& marketing data only once every month then that is the frequency with which metrics should be collected. If ...

Solution Summary

Relevancy of Metrics is discussed in great detail in this solution.

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