A goal should be measurable, specific, timed, and ajustable. Bill Gates seems to get that measuring is not enough… you must be measuring the correct aspect of your goal.
In the U.S., we should be measuring the value being added by colleges. Currently, college rankings are focused on inputs—the scores and quality of students entering college—and on judgments and prejudices about a schools “reputation.” Students would be better served by measures of which colleges were best preparing their graduates for the job market. They then could know where they would get the most for their tuition money.