Module 6: Measuring wellbeing
Using a wellbeing index or a dashboard of wellbeing indicators are two different approaches to measuring and monitoring wellbeing. Both approaches have their own pros and cons.
Wellbeing Index
Main purpose:
Communication tool
Comparing overall trends in wellbeing over time
The pros:
Simplicity: A wellbeing index condenses multiple indicators into a single value, making it easier to understand and communicate to a broad audience.
Ease of comparison: It allows for more straightforward comparisons over time and across different populations or regions, as there is a single number to track and compare.
The cons:
Simplification: Nuance is lost in the process of combining multiple indicators into one. For example, when several input indicators are trending down whilst others are trending up, the overall index may show a stable trend over time.
Subjectivity: The choice of indicators and their weights in the index can be subjective and may not reflect the preferences or priorities of all stakeholders.
Limited Information: An index does not provide a detailed understanding of the individual factors influencing wellbeing.
Wellbeing Dashboard
Main purpose:
Informing policy decision-making
Wellbeing monitoring
Detailed scrutiny
The pros:
Comprehensive: Wellbeing dashboards provide a more comprehensive and nuanced view of wellbeing, capturing multiple dimensions and aspects.
Transparency: The inclusion of multiple indicators and their individual values provides transparency and allows users to understand the underlying data and patterns.
Responsive: Changes in specific indicators can be identified and addressed more precisely.
The cons:
Complexity: A dashboard with multiple indicators may require more effort to understand and interpret.
Data Availability: Gathering and updating data for a broader set of indicators can be resource-intensive.
Lack of Consensus: Selecting the right set of indicators can be a challenge, and there may not be a consensus on what to include.