Definition: include various measures that a company or any other kind of organization uses to estimate both the efficiency and productivity of a specific operation, process, or system. Depending on the industry, business area, or market, each company has to develop its own set of operations metrics that will help it better estimate the effectiveness of the subject of analysis. For instance, social media marketing experts are responsible for studying metrics such as clicks, views, and time spent on a web page.
In a Sentence:
We judge the efficiency of our shipping crew by using operations metrics such as delivery time, the number of late deliveries, and work-related accidents. So far, our warehouse employees have impressed everyone with their performance.
Choosing the correct operations metrics to evaluate the effectiveness of the HR department’s recruitment process turned out to be a difficult task. We’ve concluded that before we make any decisions, we have to see whether the latest batch of employees will prove to be a valuable asset for our firm.
Synonyms and related words: financial metrics, financial performance, operational metrics, business metrics