The more metrics you track, the less you know.

Even though tracking some metrics like engagment makes sense, unless you are building new social media or something similar that early on doesn't have revenue, for 99% of businesses the single metric to track is profit in dollars. All other metrics should be carefully derived from it. Bad data is worse than no data.

Great one! Thank you for sharing.

This is true in all verticals of business, even in case of social media marketing, people tend to track the number of followers but in order to measure how successful you are in building your brand, you need to focus on two metrics: Reach and engagement. Reach is how many people see your content, where as engagement is getting them to save or share with others.

I'm a new IH and I've been struggling with exactly this. Some metrics I track don't seem to help now and I've considered stopping them, but then I think they will help once I've collected enough data over time - and if they help in the future then they are worth tracking. My worry is that I won't track something and will regret not having data on it. I guess that's one of the reasons why people/businesses can end up tracking too many metrics.

Yup! 100% agree with this. Used to work for a company that would track the most pointless things, and everyone would just follow the rules and not question anything even though you could actually eliminate jobs if you stopped tracking some of the things you didn't need to track. Literally. Drove. Me. Crazy. No wonder I left.