Relative measurement is the process of determining the size, quantity, or degree of something in relation to a standard or another quantity, rather than in absolute terms. This approach is crucial in contexts where absolute values may be difficult to ascertain or less meaningful, allowing for comparison and analysis based on proportion or ratio.
An indicator is a measurable variable or metric used to assess or predict the performance, condition, or trend of a system or process. Indicators are essential tools in decision-making, providing insights that guide strategic planning and evaluation across various fields such as economics, health, and environmental science.
A chain index is like a way to keep track of how things change over time by connecting each change to the one before it, just like a chain links together. It helps us see how things like prices or numbers go up or down step by step, rather than all at once.