Before a company can answer this question, they need to take stock of the companies current state of affairs and develop a vision for what they would like to become.
This starts with examining what metrics the company already tracks, looking into the details of these, identifying information gaps, starting to think about where improvements can be made, and what else needs to be measured to achieve this.
These decisions will be informed by taking the perspective of different stakeholders, above all, employees and investors.
A company can take advantage of multiple tools to identify metrics to be tracked, based on what's important to their stakeholders and essentially, what metrics are necessary to best manage risk.
This starts with examining what metrics the company already tracks, looking into the details of these, identifying information gaps, starting to think about where improvements can be made, and what else needs to be measured to achieve this.
These decisions will be informed by taking the perspective of different stakeholders, above all, employees and investors.
A company can take advantage of multiple tools to identify metrics to be tracked, based on what's important to their stakeholders and essentially, what metrics are necessary to best manage risk.