Metrics Tell A Story But It Could Be Fiction

metrics

There is an old saying that numbers don’t lie. This is generally said by people trying to sell you numbers based solutions or use them to sell you something. Metrics are important but you need to make sure the metrics aren’t deceiving. Metrics tell a story. The story they tell could be fiction.

Let’s start with some examples of numbers lying. Comcast releases subscriber numbers from Peacock, its streaming service, with their quarterly earnings report.This is common practice with companies that own streaming services. Peacock, however, offers a free service that people can sign up for. Those people are included in the subscriber numbers, even though it has been reported that many of them found the service disappointing and stopped using it shortly after signing up. The users still have an account, so technically they’re still subscribers, but they have no value since they pay no money and watch no ads. 

Verizon uses customer satisfaction numbers in their ads. They talk about the high ratings their customers give their 5G service. They leave out the part that the locations the service is available is very limited, so those ratings come from a very small area of the country. Yes the satisfaction is high but not in most of their coverage area. 

You’ve also probably heard the claim on insurance commercials about how much money people who switched to them save. The key phrase is customers who switched. It conveniently leaves out how much was saved by people who didn’t switch. They lave that out because its money people saved by not using their product.

When using metrics you need to make sure they reflect reality. Not part of reality and not just what you want to hear. Examine the numbers carefully and acknowledge what they really tell you, not what you want them to tell you.

See how a Modern Observer Group coach can help you understand your data. Schedule a call here or contact us at the information below. Modern Observer Group programs are based on the Businetiks system as detailed in the book, “The Businetiks Way.”