Measurement
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is “Measurement”?
“In God we trust… all others bring data.” — W. Edwards Deming, production management expert and pioneer of statistical process control
Key Points:
- Measurement is the process of collecting data as the system operates.
- Measurement also allows to compare systems with each other.
- The best way to avoid Absence Blindness is to measure to identify potential issues that you might not be seeing.
- The first step to improving a system is collecting data, and you do that with Measurement.
Questions for Consideration:
- What are the critical parts of the system you’re analyzing?
- What could you measure to determine how well the system is operating?
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