Different Types of Measures for Business Success


Whether you equate success with work-life balance or how many pitches a baseball player throws in a game, metrics are key to assessing and improving your business. However, not all metrics are created equal.

Measures play an important role in math education as pupils learn how to compare lengths, weights and volume/capacity. Understanding the different types of measures will help you teach math effectively.

Measures of Effectiveness

There are a number of different ways that effectiveness can be measured. In business, this can include using key performance indicators (KPIs) or conducting customer satisfaction surveys. These metrics can help businesses determine how well they are performing and where there is room for improvement.

Other measures of effectiveness can be more subjective, like ratings on traits such as cooperation, critical judgment and communication. These can be difficult to evaluate and may vary widely from one person to another, but they can also be useful if they are used consistently and in conjunction with other assessments.

Regardless of the method chosen to measure effectiveness, it is important to ensure that it is comprehensive and gives an accurate picture of the entire situation. For example, scoring a support or call centre employee purely on the basis of their number of calls fielded ignores whether they are achieving their goal of providing quality customer service and answering questions satisfactorily.

Measures of Performance

Often, these measures are easy to decipher and provide management with a quick, cost-effective appraisal tool. They may include simple skills tests such as a yes/no questionnaire or the 9-box grid method.

However, to be most useful, performance measurement must be based on activities over which managers have control or influence and consistent in application. If a manager’s evaluation is based on income, for example, it should be measured in the same way each time, unless the measure is found to be inappropriate for its intended purpose (e.g., comparing against budgeted results or established standards).

The best performance measures have face validity and represent an important step toward the translation of the highest quality evidence into clinical practice. Ideally, they should also improve value for patients and purchasers of health care. This is a critical factor that will drive the effectiveness of any performance measurement system. Ultimately, this is the most effective way to make a meaningful difference in outcomes and community health.

Measures of Suitability

The ability of a person to behave in a way that is compatible with the requirements of the job. For example, a technical expert, manager, office administrator or customer representative may require different behaviors from that of a salesperson. Suitability is much more difficult to assess than eligibility, because behavioral factors are often less apparent and are often interrelated. Also, many jobs have unique behaviors that are hard to quantify or measure, and applicants have a strong incentive to conceal information that could harm their employment opportunity.

Financial suitability means deeply understanding a client including his or her goals, circumstances and personality — and tailoring a financial plan, strategy or product that ‘fits’ them. It’s also what FINRA requires broker-dealers to do in complying with regulations like Regulation Best Interest and Rule 2111 when recommending investments to retail investors.

Measures of Accuracy

Accuracy and precision are important for many professionals working with data, such as scientists. They rely on accurate measurements to help them establish standards that others can use as reference points.

In the world of measurement, accuracy refers to how close a measured value is to its true or accepted value. For example, if you weigh a substance in lab five times and get an average weight of 3.2 kg, your measurement is accurately close to the actual or known value.

Precision, on the other hand, refers to how closely the results of multiple measurements are to each other. For example, if you take 10 measurements of the same object and they all fall within the same range, your data is highly precise. It is possible to be both accurate and precise, but it is more common to be one or the other. Think of a dartboard: The data points on the left depict accurate data that are close together, while those on the right show precise data that are not close together.

Mass Measurement

mass measurement

Mass is a measure of how much matter something contains. It is not affected by shape or location. For example, your weight would be different if you were on the moon or at home, but your mass is the same.

The measurement of mass can be done by using a balance or through a novel bioanalytical technology called mass photometry (Young, et al. 2018).

Units of Mass

Until recently, the amount of matter in an object was called its weight. But today, scientists use a different unit of measurement to describe the force of gravity on an object—its mass.

The SI unit for mass is the gram, or g. It is one-tenth of a cubic centimeter (cm3). For heavier objects, kilograms are used. One kilogram is equal to about 2.2 pounds.

Students might have a hard time understanding the concept of mass and how it relates to weight. To help them, you can provide examples of common everyday items like paper clips and pens that have similar shapes and sizes but differ in mass. Acquainting them with these units in their daily context will help them remember them more effectively.

It’s also important to point out that a gram is not the same as a pound. The pound is a measure of force, while the gram is a measure of matter. This is important to keep in mind because students will encounter both the pound and the gram in their future careers.

Gravitational Forces

All things that have mass exert a force of attraction on everything else with mass, known as gravitational force. The strength of this force increases with the masses of the objects and decreases with the distance between them.

Newton’s universal law states that the force of gravitation between any two bodies is directly proportional to the product of their masses and inversely proportional to the square of the distance between them. Modern weighing practice is designed to take advantage of these proportions and thereby compare the masses of different weights.

In order to achieve the high level of accuracy needed in mass comparisons, it is necessary to correct for the gravitational configuration effect. This is caused by differences in the heights of the centers of gravity (of nominally equal weights) above their bases. These variations are caused by the size and shape of the weights and may result in systematic errors if they are not corrected.

Measurement Instruments

The instruments used to measure mass are called balances. [1] A balance consists of two pans suspended from a pivot, with the unknown mass placed in one of them and standard masses added to the other until the beam is in equilibrium.

Laboratory balances are highly precise and capable of measuring mass to a fraction of a gram. These instruments are sensitive to air movement, so they must be kept in a stable environment with no drafts or vibrations.

The terms accuracy and precision are often confused, but they are distinct concepts. Accuracy is the degree to which a measurement agrees with the expected value. Precision is the consistency of measurements over time and between different instruments. Usually, recalibration improves an instrument’s accuracy, but does not necessarily improve its precision. Measuring tools include calipers to take dimensions of an object, rulers, and a variety of scales, including metric and decimal-point scales. They can also include thermometers, stopwatches, bubble inclinometers, protractors, and digital angle gauges.

Errors in Mass Measurements

The accuracy of a mass measurement can be estimated by dividing the square root of the number of measurements. The error may be further reduced by applying standard statistical tests assuming the data is normally distributed (for details see [18]).

The terms measured accurate mass and exact mass are often used interchangeably. However, IUPAC recommends that the term measured accurate mass be used to describe an experimental quantity and calculated exact mass be used to refer to a theoretical quantity.

The mistaken belief that a kilogram of matter has the same value regardless of the gravitational environment it is in can lead to incorrect measurement. A balance, for example, will work perfectly when placed on a non-gravity surface such as the moon but will not work in space because the gravity of a planet is different. There are three main sources of error in mass measurements: environmental, procedural and human errors. This is why the use of a computer to analyse mass spectrometry data is important.