We recently hosted a webcast conversation between Mark Graban, Author, Professional Speaker, and Consultant, and Marilyn Gorman, Faculty Lead at Lean Startup Co., focused on the importance of metrics and how visualizing data can help foster better learning and more improvement for your organization.
In Marilyn and Mark’s conversation, they discuss:
– Why you shouldn’t react equally to every uptick or downturn in a business metric.
– How to distinguish between signal and noise in metrics and respond accordingly, which includes not overreacting.
– How to use “Process Behavior Charts” to make better management decisions.
And much, much more…
The Lean Startup Conference 2018 is sold out but you can still catch all the keynote talks with our free live stream (Nov 14-16). Sign up here: https://lsp.formstack.com/forms/livestream_registration_2018
For the past twenty years, Mark Graban, author of the book “Measures of Success: React Less, Lead Better, Improve More” and senior advisor to the software company KaiNexus, has been paying attention to how companies and startups use and react to metrics. “Everybody’s got goals and objectives and targets and the action or reaction — or maybe overreaction — that occurs every time there’s an up and down in metrics,” he says, “people feel like they’re taking action, but it might not always be the right action.”
Mark believes that it’s important for companies of all sizes — from startups to big corporations — to take a step back and evaluate how they look at metrics. It can be easy for a company to look at the numbers and react to every uptick, downturn or minor change — something Mark likes to call the “noise” in a metric. But he thinks it’s important for companies and individuals to determine whether or not that noise is a meaningful signal or just a standard fluctuation around an average that doesn’t need to be addressed.
But, Mark emphasizes, it doesn’t have to be complicated. A lot of companies use metrics to hyper-focus on growth, but what they should be using them for is better learning.