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# Metrics vs Measurements

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A metric is a system or standard for measuring something.
A measurement is a numerical observation.

## The Difference

Metrics and measurements are similar enough that the two terms are commonly used interchangeably. The key difference is that a metric is based on standardized procedures, calculation methods and systems for generating a number. A measurement could be taken with a different technique each time. As such, metric is a more appropriate term for highly standardized measurements.

## Example

A firm is interested in measuring customer satisfaction. One week they go out and ask customers to rate their satisfaction on a scale of 1-3. The next week they go out and ask customers to rate their satisfaction on a scale of 1-4. Such measurements can't be considered metrics because they aren't observed using a system or standard.
When the firm decides on a standard scale and technique for gathering and computing customer satisfaction, it can accurately be referred to as a metric.
 Metrics vs Measurements Metrics Measurements Definition Numerical observations based on standard systems, methods, calculations and data sources. Numerical observations. Key Difference Standardized Potentially adhoc
Attach Rate
Baseline
Benchmarks
Budget Variance
Capability Rate
Churn Rate
Compliance Rate
Cost Effectiveness
Customer Satisfaction Rate
Cycle Time
Efficiency
Error Rate
Gross Margin
IT Metrics
Marketing Metrics
On-Time Performance
Productivity
ROI
Run Rate
Sales Metrics
Sales Volume
Share Of Wallet
Story Points
Takt Time
Time To Market
Time To Volume
Turnaround Time
Vanity Metrics
More ...

A list of common business metrics.

## Management Accounting Definition

A comprehensive overview of management accounting.

## Efficiency Types

The common types of efficiency with examples.

## Compliance Rate

The definition of compliance rate with examples.

## Employee Productivity

How to measure employee productivity with examples.

## Success Factor Definition

The definition of critical success factor.

## Benchmarking

A few examples of benchmarking.

## Operational Performance

An overview of operational performance with examples.

## On-Time Performance

An overview of on-time performance with examples.

## Data Analysis

The common types of data analysis.

## Baseline vs Benchmark

The difference between a baseline and a benchmark.

## Unstructured Data

A definition of unstructured data with examples.
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## New Articles

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