McKinsey May 10, 2023
A data-driven view of key metrics can help art organizations articulate value, reshape strategy, build resilience, and achieve operational excellence.
Art institutions improve people’s lives and livelihoods in diverse ways. They enrich individuals by fostering education, health, creativity, and empathy. They also act as community catalysts by encouraging inclusion, contributing to tourism, improving quality of life, and growing economies. But many art organizations struggle to measure this impact. That difficulty makes it harder for them both to articulate their performance to boards and other stakeholders and to evolve their operating models strategically so that they can navigate current and future challenges.
Art institutions were struggling with the resilience of their...
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