approaches to quantification
March 6, 1997

Listening to feedback is a good idea, but it's not as if there is a radio station whish plays it. Rather, it needs to be sought out and measured - quantified - before it can be heard.

Various criteria attempt to quantify the universe, the market and the firm. Appropriate measures vary with lifecycle stage.

Each measure is of limited value, due to inherent flaws in any measurement and analysis process. Such flaws include various kinds of bias, interpretation, and timeliness and relevance. That is, there is no guarantee that the measure has been influenced by something other than what was being measured; there is no guarantee that the meaning of the measurement is in fact the true meaning of the measurement; there is no guarantee that the measurement will still mean anything (assuming it did, at some stage) by the time it is available, as the phenomenon being measured will have evolved, as will have the environment feeding that evolution.

However, a battery of measurements may give a degree of insight. Here is a list of criteria, and methods of measurement.