A platform and method for monitoring and analyzing data is disclosed and which includes at least one measurement logic which converts service execution data having a plurality of elements into a measure, and wherein a subset of the elements of the service execution data is identified as a context; a metric which identifies an aspect of a business that a user wishes to monitor and analyze, and wherein the metric has a predetermined data type; and a meter which defines the measurement logic used to compute the measures for use with the metric and the subset of the elements within the context.