Why is it important to track metrics like cycle time and defect rates?

Tracking metrics such as cycle time and defect rates is crucial for assessing operational performance because these indicators provide insights into the efficiency and quality of processes. Cycle time measures the duration it takes to complete a task or project, while defect rates quantify the frequency of errors or flaws in products or services. By monitoring these metrics, organizations can identify bottlenecks in their operations, improve workflow efficiency, enhance product quality, and ultimately make data-driven decisions that lead to increased productivity and customer satisfaction. This assessment also allows for continuous improvement initiatives, enabling teams to implement changes that can drive better results over time.