Author/Creator:
Goodhart's Law is named after economist Charles Goodhart, who articulated the principle while discussing economic policy and measurement in the 1970s.
Explanation:
Goodhart's Law states that "when a measure becomes a target, it ceases to be a good measure." This means that once a particular metric is used to drive decision-making or performance, individuals may manipulate the system to meet the target, thereby distorting the original intent of the measurement.
Description:
Improve your metrics by understanding and applying Goodhart's Law! Recognize the limitations and potential pitfalls of using metrics as targets. By being aware of this principle, you can ensure that your performance indicators remain effective and meaningful. Avoid the trap of manipulated metrics and strive for a more comprehensive approach to measurement that truly reflects your objectives. Enhance your strategic planning and decision-making processes by keeping the true purpose of your metrics in focus.
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