Measuring is the only way to tell if you are meeting your goals, but make sure that what you are measuring is a true indication of your business. To do this you need measurements that cover the following areas.
Effectiveness - Shows how well you are meeting internal and external customer expectations. Effectivness should be measured by timeliness, performance, reliability, costs, and dependability.
Efficiency - Shows where you are using time effectively and eliminating non-value added steps. Efficiency can be measured by cycle time, process time, resources used per unit, and percent value-added time per service.
Adaptability - Shows how you are meeting changing demands. Adaptability is measured by how well you are are exceeding your customer's expectations, whether you are keeping ahead of your competition, and if you are adjusting to changing economic conditions.
Measuring in this manner, you can be sure you are covering multiple areas of your business.
Many of the ideas presented here are from the "Tips From The Top" publication.