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WFM Glossary


WFM cycleWorkforce Management definitions and formulas

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M

Mean

The mean (or average) of a series of numbers of length n is defined as the sum of the numbers in the series divided by n. In formula form this is shown as follows:

\( AV = \frac{1}{n} \sum_{i=1}^{n} a_i = \frac{1}{n}(a_1+a_2+a_3+\cdots+a_n) \)

For example: if our series of numbers is 1 2 3 4 5, then the mean is equal to \( \frac{1}{5} \times (1+2+3+4+5) = \frac{1}{5} \times 15 = 3 \).

The excel function for the mean is AVERAGE()


Metrics

  1. In any contact center there is an abundance of metrics. The challenge is to find and use the metrics that matter for your organization.
  2. Examples: Handling time, Occupancy, Shrinkage, Longest Idle Agent, .....
  3. When defining metrics, it all begins with simplicity. If we were to look at our reports and processes, the ways in which we communicate information, and the goals that we target, can we identify the waste? Can we review information we've captured and determine which metrics we've used in meaningful ways versus data we've done nothing with? A great starting point is to sort out which metrics are the "must measures" for contact centers. These include first-contact resolution, service-level and response time, adherence to schedule, forecasting accuracy, self-service accessibility, contact quality, and customer satisfaction. While we should measure additional factors, these metrics are absolute essentials.



Model

Used throughout the fellowship course as mathematical model, a description in mathematics terms of part of a system, that allows an analysis of certain aspects of that system. For example, a simulation model.