Kaushik my favorite Web analytics expert has described Four Attributes of Great Metrics and metrics life cycle process. He says "Metrics life cycle process is your friend!". if you are using web analytics and want to improve your online presence of website, you need to know the life-cycle process of metrics we need to care during web performance management and before planning or making a strategy to implement in online activities. Let's see a an graphic demo of Analytics Metrics Lifecycle Process suggested by Kaushik.
If you look at the image carefully, each circle describe its own definition itself to care about for each step whenever you want to start or implement analytics process. According to him you and every web analytics user should execute the Metrics Life cycle Process in a timely manner, atleast once a quarter.