A calibrated metric is one that is scaled (or scored) to be meaningful across a specified context such as a set of conditions, products, markets, or cultures. 
Some metrics – like foot traffic – do not need further calibration. Others require a calibration exercise to standardize their meaning across conditions.
“Calibrated” is one of the 10 Characteristics of an Ideal Metric designated by the Marketing Accountability Standards Board.
- Accountable Marketing: Linking marketing actions to financial performance, 1st Edition; Eds. Stewart, David W. & Gugel, Craig; Routledge, 2016.
- Universal Marketing Dictionary Project, 2023.