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How To Identify Key Metrics For A Project - Coursera

The document outlines how business intelligence professionals identify key metrics for project success by focusing on five main points: limiting the number of metrics for clarity, aligning metrics with business objectives, ensuring necessary technologies are in place, considering data availability cadence, and using the SMART methodology for metric refinement. It emphasizes the importance of relevant and actionable metrics to avoid confusion and enhance dashboard effectiveness. Ultimately, the goal is to create precise metrics that support project goals and stakeholder needs.

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16 views1 page

How To Identify Key Metrics For A Project - Coursera

The document outlines how business intelligence professionals identify key metrics for project success by focusing on five main points: limiting the number of metrics for clarity, aligning metrics with business objectives, ensuring necessary technologies are in place, considering data availability cadence, and using the SMART methodology for metric refinement. It emphasizes the importance of relevant and actionable metrics to avoid confusion and enhance dashboard effectiveness. Ultimately, the goal is to create precise metrics that support project goals and stakeholder needs.

Uploaded by

aman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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2/17/24, 9:41 PM How to identify key metrics for a project | Coursera

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How to identify key metrics for a project


Choosing your metrics

In a previous video, you learned how business intelligence professionals determine which metrics to
include in their dashboards to deliver relevant and actionable data to their stakeholders. In this reading,
you’re going to consider how choosing the right metrics can determine the success of a project. You’ll do
this by exploring an example of a BI professional identifying key metrics for their project.

There are five key points BI professionals take into account when choosing metrics:

1. The number of metrics: More information is not always better. BI professionals limit the number of
metrics on dashboards to focus specifically on the ones that are key to a project’s success. Key
metrics are relevant and actionable. For instance, if metric X drops, is this good or bad? What action
would a user take if it dropped that would be different if it rose instead? Too many metrics that
aren’t relevant to the project can be confusing and make your dashboard less effective. The goal
isn’t to overload the dashboard to account for every single use case, but 80% of the common use
cases.

2. Alignment with business objectives: Understanding the business objectives can help you narrow
down which metrics will support those goals and measure their success. For example, if the
business objective is to increase sales, include revenue in your dashboard. You will most likely not
want to include a metric such as customer satisfaction because that is not directly related to the
business objective of increasing sales.
3. The necessary technologies and processes: It’s important to confirm that the necessary
technologies and processes are in place for the metrics you’re choosing. If you can’t obtain and
analyze the necessary data, then those metrics aren’t going to be very useful.
4. The cadence of data: You have to consider how frequently the data becomes available. If a lot of
metrics are delivered at a different cadence and frequency, it becomes difficult to schedule a
review.
5. Use SMART methodology: If you earned your Google Data Analytics Certificate, you know the
SMART methodology is a useful tool for creating effective questions to ask stakeholders. It can also
be used to identify and refine key metrics by ensuring that they are specific, measurable, action-
oriented, relevant, and time-bound. This can help you avoid vague or super-high-level metrics that
aren’t useful to stakeholders, and instead create metrics that are precise and informative.

https://www.coursera.org/learn/foundations-of-business-intelligence/supplement/fCeMQ/how-to-identify-key-metrics-for-a-project 1/1

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