What does "Metric" refer to in the context of data analysis? 🔊
In the context of data analysis, "Metric" refers to a quantitative measurement used to assess and evaluate performance objectives. Metrics provide insights into various aspects of a business or process, such as efficiency, effectiveness, and success rates. They enable organizations to track progress over time, make informed decisions, and identify areas for improvement. Common examples of metrics include sales figures, customer satisfaction scores, and website traffic. Properly defined metrics form the backbone of data-driven strategies, ensuring that organizations can achieve their goals effectively.
Equestions.com Team – Verified by subject-matter experts