Always start by figuring the decision you need to make. This will show you what measurements you need, how you should measure it, and how it will impact the final decision.
A decision must:
- Have at least two alternatives
- Involve uncertainty
- Include at least one scenario with a risk attached
- Have a decision maker to make the final call
The measurement must have well defined consequences on the decision being made.
Decomposing a problem can yield superior results, even if the measurement is a guess.