Definitions for TrueValueMetrics
How? ... How does TVM work?
TVM operates like an accounting system.
There is accounting for both money and value elements of society.
TVM aggregates a lot of little pieces of data .. and the logical framework derived from corporate accountancy makes it is possible to see the totality without data overload.
TVM uses the core concept of double entry accountancy to get reliable metrics for state, progress and performance of spociety and the economy that are coherent without an immense amount of detail data collection or a problematic use of statistics.
TVM uses an economic activity as the elemental component of analysis ... and aggregates to both the implementing organizations and the place/community
TVM goes beyond single stories to make multiple stories tell the complete story in a meaningful manner.
TVM ... How?
TVM is both a comprehensive framework and a modular framework. As a comprehensive system, everything is included. As a modular system, important matters can be addressed with limited resources and high impact benefit realized at a modest cost.
While there are many initiatives to improve the reporting of organizations, and an established framework of macro-economic indicators ... there are few initiatives that address socio-economic performance from the perspective of the community.
TVM becomes possible because of many low cost ways there are now for collecting and storing data, and for its analysis. The structure of social networks is supported by an IT infrastructure that could also be used for TVM data. Social networks make it possible for people to interact in ways previously impossible ... TVM and social network infrastructure makes it possible for everything of any relevance to a community to be on the record and in place where it may be used usefully.
There was a time when data collection was a very costly exercise, but much less so in recent years with better and better technology. Modern web based IT and cellular phone based text messages make it possible to have data collection that is timely and very low cost. Massive amounts of data can be stored and mined for critical information rapidly and at low cost. Cost effective technologies are being used to the greatest extent possible to make TVM not only effective but also affordable.