From the course: Measuring Team Performance
Join today to access over 23,100 courses taught by industry experts.
Quantitative vs. qualitative measures
From the course: Measuring Team Performance
Quantitative vs. qualitative measures
- Some metrics are easy to put numbers to. Revenue, inventory levels, and customer retention are solid numbers. Knowing those quantitative measures is essential to understanding your business. That said, you also need to measure qualitative aspects of your business like associate engagement and customer satisfaction. Regardless of the measurement, you need to answer five things about it. What's the measurement's purpose? Know the significance of the metric and what you'll change in your business based on the numbers you measure. What data source will you use? Different sources of data can yield different results. How will you calculate the metric? Define the formula, especially for complex measures. How frequently will you measure measuring takes effort? Be efficient and only measure as frequently as you need to. Last, who will review the measure? Define the stakeholders who are going to receive the reports.…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.