Measurement by Deming
“You can’t manage what you don’t measure”, is a solid business maxim to live by, but it leads too many companies to assume that the more data they have, the more things they should measure. W. Edwards Deming understood this predicament so well that Ford Motor Company asked him to help turnaround their losses of $3Bn in 1979. Within 7 years, Deming’s advice made them profitable by encouraging Ford to only measure the things that really mattered. The same is true today. Successful brands must find their own Moneyball number. That one metric that really matters. Be it ROI, NPS or something inbetween, the best brands know that less is more.
- Follow: @DemingInstitute
- Read: Ultimate Question 2.0
- Watch: 14 Points
- Link: Plan Do Act Check
