Metrics are important for every business, but not only businesses they are just important for measuring anything. For example, when people try to measure how good a player is in the NFL, they look at the metrics and statistics on him and what he has done throughout his career. These same metrics will eventually be used to determine if he is eligible for the Hall of Fame. The article discusses that what is more important, is finding what these metrics actually mean or if the data actually means anything realistically. It is true that since it is less expensive to gather data nowadays, companies will basically gather data and metrics on almost everything, and worry about evaluating it later. The NFL has so many metrics for every situation; for example, they might be able to tell me that a certain quarterback has a 5-0 record when leading by 21 point going into the second half. Now, to me, that doesn’t really mean anything because, not only is five games is a small sample size to begin with, it is also very hard for any team to come back from a 21 point deficit in any situation; therefore, to me it doesn’t really say anything about the quarterback. However, some people may disagree with that and think that it does mean something; either way, the NFL still shares certain metrics like these with their audience during the games and before the games and leaves it up to them to decide if they want to factor it into who they think will win or what they think of certain players. My point here is that I think certain metrics can actually be important to some and less important to others. What do you guys think? Do you think there is a possibility for different viewpoints on metrics? Or is one person just wrong because they aren’t seeing the relevance? What should companies do about this?
Source: https://www.dropbox.com/s/zqhicbealro0z26/The%20beauty%20and%20perils%20of%20metrics.pdf?dl=0
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