The DifferenceMetrics 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.
ExampleA 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
Numerical observations based on standard systems, methods, calculations and data sources.