Content from SiriusDecisions/Forrester and this LinkedIn post
SiriusDecisions’ Metrics Spectrum, which helps organize and structure the journey to insight-driven decision making, consists for four parts.
- Readiness – Determine how well the team is prepared to perform by analyzing data, skills, and business processes. This assessment provides a solid foundation for any strategic plan or business case.
- Activity – Adopt an activity-based metrics approach by counting the tactics and actions taken, from outbound calls from telemarketing and inside sales to e-mails sent.
- Output – Measure the direct result of business actions and activity – from responders, inquiries, and inbound requests for more information and next steps – and go beyond purely activity-based metrics.
- Impact – Assess how the team performed against defined goals – revenue, profitability, and, ultimately, market share. Too many organizations fail to do this because they are mired in the details of activities. But when this is done (and done well), the team provides the transparency to demonstrate its value to the executive leadership who is signing paychecks.
Several companies have used the above model and modified it to meet their needs. For example, one company used the above to create a funnel consisting of the fur areas.