Instructions

1. List all current metrics you track regularly

2. Answer the evaluation questions for each metric

3. Score each metric based on the criteria

4. Identify gaps and action items

5. Create your streamlined metrics dashboard

Part 1: Metric Inventory & Evaluation

For each metric you currently track, complete the following evaluation:

Metric Details

• Metric Name: _____________

• Current Dashboard/Report: _____________

• Frequency of Review: _____________

• Who Reviews It: _____________

Action Assessment

1. What specific business action would we take if this metric changed by 25%?

   • Immediate Action: _____________

   • Owner of Action: _____________

   • Time to Action: _____________

2. When was the last time this metric triggered a business decision?

   • Date: _____________

   • Decision Made: _____________

   • Outcome: _____________

Value Assessment

Score each criterion from 1-5 (1=Low, 5=High)

• Directly tied to revenue or cost

• Predictive of future performance

• Actionable within our control

• Clear ownership within the organization

• Actually reviewed at stated frequency

• Leads to specific decisions

• Data is reliable and current

• Understanding is consistent across team

Total Score: __/40

Part 2: Metric Classification

Based on the evaluation, classify each metric:

Mission Critical (Review Daily)

• Requires immediate action if off-track

• Directly impacts revenue/operations

• Clear owner and action plan Example: Daily sales conversion rate

Strategic (Review Weekly)

• Indicates trends and patterns

• Influences strategic decisions

• Maximum of 3-4 metrics Example: Customer acquisition cost

Monitoring (Review Monthly)

• Context for other metrics

• Not immediately actionable

• Important for long-term tracking Example: Market share percentage

Consider Retiring (Review Value)

• Low total score from assessment

• No clear actions tied to changes

• Redundant with other metrics Example: Generic page views without conversion context

Part 3: Dashboard Optimization

Current State

Total Number of Metrics: _____

• Daily Metrics: _____

• Weekly Metrics: _____

• Monthly Metrics: _____

Target State

Recommended Maximum Metrics:

• Daily: Based on operational requirements

• Weekly: 3-4 key strategic metrics

• Monthly: 5-7 monitoring metrics

Action Items

1. Metrics to Retire:

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   • 
     

2. Metrics to Add:

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   • 
     

3. Frequency Adjustments:

   • 
     

   • 
     

Part 4: Implementation Plan

Technical Changes

• Dashboard modifications needed

• Data source adjustments

• Automation requirements

Process Changes

• New review schedules

• Owner assignments

• Action triggers

Training Needs

• Who needs to be trained

• Key concepts to cover

• Timeline for rollout

Evaluation Criteria for New Metrics

Before adding any new metric, ensure it meets these criteria:

1. Action Trigger

• Has a clear threshold for action

• Specific owner identified

• Defined response plan

2. Business Impact

• Directly tied to revenue or costs

• Influences key decisions

• Measures something within our control

3. Data Quality

• Reliable data source

• Automated collection possible

• Regular validation process

4. Organizational Fit

• Aligns with business objectives

• Clear ownership

• Resources available to track/act

Common Pitfalls to Avoid

1. Vanity Metrics

• Social media followers without engagement

• Page views without conversion context

• Total users without active users

2. Redundant Metrics

• Multiple ways of measuring same thing

• Overlapping indicators

• Derivative metrics

3. Overcomplication

• Too many drill-down options

• Complex calculations

• Difficult to explain quickly

4. Action Disconnection

• No clear next steps

• No ownership

• No timeline for response

Next Steps

1. Complete this audit for all current metrics

2. Score and classify each metric

3. Create retirement plan for low-value metrics

4. Design new streamlined dashboard

5. Document action plans for each retained metric

6. Schedule regular metric reviews

Remember: The goal is not to track everything possible, but to track what drives action and growth.