What metrics do you use to measure the success of a certain decision over time?
There are many metrics that can be used to measure the success of a decision over time, depending on the specific decision and context. Some common metrics include:
- Return on investment (ROI) - a measure of the profitability of an investment
- Net present value (NPV) - a measure of the value of an investment, taking into account the time value of money
- Break-even analysis - a measure of when the revenue from an investment equals its cost
- Payback period - a measure of how long it takes for an investment to recover its cost
- Internal rate of return (IRR) - a measure of the return on an investment, taking into account the time value of money
- Customer satisfaction - a measure of how satisfied customers are with a product or service
- Market share - a measure of the proportion of the total market controlled by a company or product
- User engagement - a measure of how actively users engage with a product or service
- Retention rate - a measure of how many users continue to use a product or service over time
It's important to note that, no single metric tells the full story, multiple metrics should be used to evaluate the decision.
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