What are Boundaries? #
Boundaries enable the measurement of various business metrics, encompassing both qualitative and quantitative aspects.
- Increase – Measures metrics with a rising trend
Increasing metrics are utilized when tracking rising targets such as revenue, sales, website visits, etc
2. Decrease – Decrease metrics aid in assessing aspects you intend to reduce
Decrease metrics are beneficial for quantifying reductions in various aspects, including churn rate, attrition rate, cost per lead, and error rates.
3. Control – Control metrics quantify variables you aim to manage and regulate.
Control metrics gauge variables you aim to manage (e.g., operational cost, recruitment budget, timeline, etc.). They offer insights into areas requiring strict monitoring and regulation.
4. Attain – Attain metrics represent the minimum requirement to initiate measurement
Attain metrics serve as the baseline for measurement, ensuring that the data collection starts from a specified point. For example, you might set an attain metric for website visitors at a minimum of 10,000 per month before tracking the growth metrics.
5. Track Activities – Track activities assist in measuring qualitative metrics such as project milestones and strategic initiatives.