Synthetic measure

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A synthetic measure (or synthetic indicator) is a value that is the result of combining other metrics, which are measurements of various features.

Contents

Examples

Quality of service

There is a method to measure quality of service in hotels. In related study [1] authors aggregate tourist opinions, measured on a scale from 1 to 10. Synthetic measure (indicator) of service quality in each hotel is calculated with the help of the aggregation operator.

Project performance

Other study [2] proposed to use classical parameters EV, PV and AC to carry out the synthetic measure of project performance.

Rankings of countries

Different normalized stimulants and destimulants were used in research [3] to create synthetic measure that selects countries with the best and the worst levels of implementation of Europe 2020 targets.

Related Research Articles

<span class="mw-page-title-main">Gross domestic product</span> Market value of goods and services produced within a country

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries. GDP is most often used by the government of a single country to measure its economic health. Due to its complex and subjective nature, this measure is often revised before being considered a reliable indicator.

Quality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards and concerns".

Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity and the choice among them depends on the purpose of the productivity measurement and data availability. The key source of difference between various productivity measures is also usually related to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity.

A balanced scorecard is a strategy performance management tool – a well structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.

ISO/IEC 15504Information technology – Process assessment, also termed Software Process Improvement and Capability dEtermination (SPICE), is a set of technical standards documents for the computer software development process and related business management functions. It is one of the joint International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC) standards, which was developed by the ISO and IEC joint subcommittee, ISO/IEC JTC 1/SC 7.

<span class="mw-page-title-main">Performance indicator</span> Measurement that evaluates the success of an organization

A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most.

Scientometrics is the field of study which concerns itself with measuring and analysing scholarly literature. Scientometrics is a sub-field of informetrics. Major research issues include the measurement of the impact of research papers and academic journals, the understanding of scientific citations, and the use of such measurements in policy and management contexts. In practice there is a significant overlap between scientometrics and other scientific fields such as information systems, information science, science of science policy, sociology of science, and metascience. Critics have argued that over-reliance on scientometrics has created a system of perverse incentives, producing a publish or perish environment that leads to low-quality research.

<span class="mw-page-title-main">Green building</span> Structures and processes of building structures that are more environmentally responsible

Green building refers to both a structure and the application of processes that are environmentally responsible and resource-efficient throughout a building's life-cycle: from planning to design, construction, operation, maintenance, renovation, and demolition. This requires close cooperation of the contractor, the architects, the engineers, and the client at all project stages. The Green Building practice expands and complements the classical building design concerns of economy, utility, durability, and comfort. Green building also refers to saving resources to the maximum extent, including energy saving, land saving, water saving, material saving, etc., during the whole life cycle of the building, protecting the environment and reducing pollution, providing people with healthy, comfortable and efficient use of space, and being in harmony with nature Buildings that live in harmony. Green building technology focuses on low consumption, high efficiency, economy, environmental protection, integration and optimization.’

<span class="mw-page-title-main">Bioindicator</span> Species that reveals the status of an environment

A bioindicator is any species or group of species whose function, population, or status can reveal the qualitative status of the environment. The most common indicator species are animals. For example, copepods and other small water crustaceans that are present in many water bodies can be monitored for changes that may indicate a problem within their ecosystem. Bioindicators can tell us about the cumulative effects of different pollutants in the ecosystem and about how long a problem may have been present, which physical and chemical testing cannot.

In the healthcare industry, pay for performance (P4P), also known as "value-based purchasing", is a payment model that offers financial incentives to physicians, hospitals, medical groups, and other healthcare providers for meeting certain performance measures. Clinical outcomes, such as longer survival, are difficult to measure, so pay for performance systems usually evaluate process quality and efficiency, such as measuring blood pressure, lowering blood pressure, or counseling patients to stop smoking. This model also penalizes health care providers for poor outcomes, medical errors, or increased costs. Integrated delivery systems where insurers and providers share in the cost are intended to help align incentives for value-based care.

Quality of experience (QoE) is a measure of the delight or annoyance of a customer's experiences with a service. QoE focuses on the entire service experience; it is a holistic concept, similar to the field of user experience, but with its roots in telecommunication. QoE is an emerging multidisciplinary field based on social psychology, cognitive science, economics, and engineering science, focused on understanding overall human quality requirements.

Customer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." Customers play an important role and are essential in keeping a product or service relevant; it is, therefore, in the best interest of the business to ensure customer satisfaction and build customer loyalty.

<span class="mw-page-title-main">Performance measurement</span> Process of collecting, analyzing and/or reporting information regarding performance

Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component.

The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health. It typically treats subjective happiness-related measures, as well as more objective quality of life indices, rather than wealth, income or profit, as something to be maximized.

<span class="mw-page-title-main">Measuring poverty</span> Overview about the measure of poverty

Poverty is measured in different ways by different bodies, both governmental and nongovernmental. Measurements can be absolute, which references a single standard, or relative, which is dependent on context. Poverty is widely understood to be multidimensional, comprising social, natural and economic factors situated within wider socio-political processes. The capabilities approach argues that capturing the perceptions of poor people is fundamental to understanding poverty.

The Design Quality Indicator (DQI) is a toolkit to measure, evaluate and improve the design quality of buildings.

<span class="mw-page-title-main">Sustainability measurement</span> Quantitative basis for the informed management of sustainability

Sustainability measurement is a set of frameworks or indicators to measure how sustainable something is. This includes processes, products, services and businesses. Sustainability is difficult to quantify. It may even be impossible to measure. To measure sustainability, the indicators consider environmental, social and economic domains. The metrics are still evolving. They include indicators, benchmarks and audits. They include sustainability standards and certification systems like Fairtrade and Organic. They also involve indices and accounting. And they can include assessment, appraisal and other reporting systems. These metrics are used over a wide range of spatial and temporal scales. Sustainability measures include corporate sustainability reporting, Triple Bottom Line accounting. They include estimates of the quality of sustainability governance for individual countries. These use the Environmental Sustainability Index and Environmental Performance Index. Some methods let us track sustainable development. These include the UN Human Development Index and ecological footprints.

<span class="mw-page-title-main">International roughness index</span> Roughness index

The international roughness index (IRI) is the roughness index most commonly obtained from measured longitudinal road profiles. It is calculated using a quarter-car vehicle math model, whose response is accumulated to yield a roughness index with units of slope. Although a universal term, IRI is calculated per wheelpath, but can be expanded to a Mean Roughness Index (MRI) when both wheelpath profiles are collected. This performance measure has less stochasticity and subjectivity in comparison to other pavement performance indicators, such as PCI, but it is not completely devoid of randomness. The sources of variability in IRI data include the difference among the readings of different runs of the test vehicle and the difference between the readings of the right and left wheel paths. Despite these facts, since its introduction in 1986, the IRI has become the road roughness index most commonly used worldwide for evaluating and managing road systems.

The University Ranking by Academic Performance (URAP) is a university ranking developed by the Informatics Institute of Middle East Technical University. Since 2010, it has been publishing annual national and global college and university rankings for top 2000 institutions. The scientometrics measurement of URAP is based on data obtained from the Institute for Scientific Information via Web of Science and inCites. For global rankings, URAP employs indicators of research performance including the number of articles, citation, total documents, article impact total, citation impact total, and international collaboration. In addition to global rankings, URAP publishes regional rankings for universities in Turkey using additional indicators such as the number of students and faculty members obtained from Center of Measuring, Selection and Placement ÖSYM.

<span class="mw-page-title-main">Andranik Tangian</span> Soviet-German polymath (born 1952)

Andranik Semovich Tangian (Melik-Tangyan) ; born March 29, 1952) is a Soviet Armenian-German mathematician, political economist and music theorist. Tangian is known for the mathematical theory of democracy, the Third Vote election method, criticism of flexicurity employment strategy and models of artificial perception of music. He is professor of the Institute for Economics (ECON) of the Karlsruhe Institute of Technology.

References

  1. Ban, Olimpia (2008). "Synthetic Measure of the Quality of Service Taking into Account the Client's Perspective in the Hotel Industry". Economia Aziendale Online. 1: No 1 (2008): Issue 1/2008. doi:10.13132/2038-5498/2008.1.1-7.
  2. Certa, Antonella; Enea, Mario; Giallanza, Antonio (2009-12-04). "A Synthetic Measure for the Assessment of the Project Performance". Business Performance Measurement and Management. pp. 167–180. doi:10.1007/978-3-642-04800-5_11. ISBN   978-3-642-04799-2.
  3. Balcerzak, Adam P. (2009-12-04). "Europe 2020 strategy and structural diversity between old and new member states. application of zero unitarization method for dynamic analysis in the years". Economics & Sociology. 8 (2): 190–210. doi: 10.14254/2071-789X.2015/8-2/14 . ProQuest   1717432597.