Measure, so you can manage

Abstract

The axiom 'you cannot manage what you don't measure' has been applied in business for several years. Although the origins of the phrase are not clear, it has been adopted as a general management principle in many different spheres of society. In the context of business this statement stresses the importance of collecting data about profits, staff productivity and consumer trends to ensure that the business adapts with the changing demands and is managed in an efficient way.