Over the past few years there has been explosive growth in the use of social media to connect and communicate, and my work has slowly morphed into this space. The TrueValueMetrics (TVM) initiative is engaging with global social media in its own unique way.
TVM has emerged progressively over a period of many years in parallel with important advances in technology. Some of the ideas were implemented long ago when accounting was done manually and the telex was the most efficient means of communicating internationally … when mainframes were ‘big iron’ and HP and TI were making their name with high powered calculators!
The idea that modern information technology is a million times more powerful than the tools available 40 years ago is pretty exciting … or perhaps a billion times more powerful … but it is very depressing when one looks at the way this power is being used for important decisions. Good information is not more powerful now than it was in the past simply because most decisions are made because of money and profit, and the information flow about this things … not to mention the money flows … are the critical decision factors.
Decision making and the subsequent accountability is not driven effectively by the prevailing metrics … this has to change … and this is the goal of TrueValueMetrics.
One of the challenges has been to select material that is appropriate for the rapid data exchange that is now the norm, while not succumbing to dangerous simplifications on the one hand or losing it all because of data overload.
From early in my career I was impressed by the accountancy model for financial reporting which makes it possible for a huge amount of data to be usefully summarized into a quite brief report … and have concluded that this would be a useful technique to help manage socio-economic state, progress and performance.
And of course this is the origin of TrueValueMetrics which will be blogged here as well as being described in detail and through dialog on the website http://truevaluemetrics.org