I have been involved in setting and monitoring the standards of higher education in several capacities. The most senior of these was a year-long stint as the Deputy Chair of the Teaching Excellence and Student Outcomes Framework (TEF) Subject Pilot for Business and Law.
As a leader of that committee I was responsible for chairing meetings of senior academics, looking at the performance of universities against a set of metrics and helping the group to come to a judgement as to whether a given subject was gold, silver or bronze. I really enjoyed it and I believe that this work made a difference, although I agree with many of the criticisms of the process.
Not everything that can be counted counts. Not everything that counts can be counted.