However, how will I ever know if they are successful if there is not a set of metrics to measure them by?

Metrics is just a business term for keeping score on how an organization or individual is doing.

Metrics define what is to be measured. Typically, the metrics tracked are key performance indicators. Metrics enable us to make evaluations based on objective, quantifiable data.

Think about it. When you have an annual review doesn’t your supervisor review your accomplishments against a set of performance indicators? These performance indicators may be: how many sales you made this year, how often you were on time for work, number of repeat customers you created, etc. If performance indicators measure you and me and measure our companies, why isn’t MEDCO measured against stated performance indicators?

The reason stated numbers rather than off the cuff numbers or descriptive words like, “great, good, etc” are important is they cause confusion. The following story may be found on the MEDCO Web page: