"If it isn't being measured, it isn't being managed".
At my current place of employment we are establishing metrics, as none exist. We have a couple systems that will provide us useful information: an employee time recording system, a system to initiate a request for our services and a service desk system for capturing incidents, problems and requests (redundant, I know).
DATA - Upon review of the time recording system, we discovered that many people are not using it and each team that does use it, uses it in a different way. There is no consistent data available.
Realizing that bad data is worse than no data, we created a Standard Operating Procedure for entering data and trained all the teams on how to do it correctly.
So now we have three solid databases for use in the Data portion of DIKW.
INFORMATION - data sitting in a database isn't much use to anybody. So we've established a list of which data elements will provide management value.
Our next step was to create infographics (high level) and reports (detail level) to distribute on a weekly basis so management can "see" what is happening.
KNOWLEDGE - getting the INFORMATION to management enables them to make (hopefully) intelligent decisions and take action on where problem areas are.
If time reporting shows an inordinate amount of time spent on "administrative tasks" instead of project work, a manager now has the KNOWLEDGE required to coach the employee into providing more value to the organization.
WISDOM - repeated KNOWLEDGE-based actions eventually will allow managers to realize longer term strategies based on what has been going on. The manager will also learn to identify consequences of the actions over time.
Using the "administrative" time reporting example above, perhaps a manager will require more project work. Ok, a reasonable expectation, but if the employee isn't assigned an adequate number of projects, they may incorrectly overstate hours reporting on projects.
Obviously, this doesn't do anyone any good.
With WISDOM, a manager may sit down with the employee and evaluate how many projects an employee has been assigned to, how many hours are required and add additional work to fulfill capacity.
This provides a better chance for success for the manager, the employee and the entire team.