Converting Data to Monetary Value
- Posted By Super User
- Return on Investment
For some evaluators, the act of converting data to monetary value inspires fear, misconception, and bewilderment. But remember, all data can be converted to monetary value. You just need to know what techniques are available to you.
Use Standard Values
Many organizations have standard values to measure turnover, productivity, and quality. If a measure has a monetary value developed and accepted by the organization, there's no reason to reinvent it. Standard values are generally grouped into three categories: output to contribution, cost of quality, and employees' time.
