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Meaningful Metrics for a Smart Society
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Date: 2019-12-11 Page is: DBtxt001.php list0300-Data-efficiency-1

Definitions for TrueValueMetrics
Data Efficiency

Having a lot of data is not the goal ... rather the goal is having data to help make better decisions, and to hold everyone accountable for decisions and for resources being well used.

Multiple use of data. The most cost effective data are data that are used in many different ways. There should ideally be one pool of data, and this one pool should be used in different ways for the specific analysis needed. Essentially the analysis is another view of the data.

Example: Malaria. In the malaria control context local data is first used to help with local operational decisions, then is used within an operational management and oversight module that addresses cost effectiveness and performance issues, and finally is used for scientific research to help have a better understanding of the underlying science and more fundamental problems that might be emerging.
A lot of good data is better than a little perfect data

A key concept for success in the context of integrated malaria management is to have data that have meaning. The goal is not to have perfect data, but to have useful data that facilitates good decision making and helps in achieving a cost effective reduction in the burden of malaria.



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TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative. It has been funded by family and friends plus donations from well wishers who understand the importance of accountability and getting the management metrics right. TVM is a 'big idea' that has the potential to be a game changer leveling the playing field so the wealth and power is shared on a more reasonable basis between people who work for a living and those that own the economy and the levers of power. In order to be effective, it cannot be funded in the conventional way with a for profit business plan, but absolutely must remain an open access initiative.
WE WANT TO MAINTAIN AN OPEN KNOWLEDGE MODEL
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