For teams you can measure meaningful outcomes and improve team metrics.
You shouldn’t really compare teams but it also is possible if you know what teams are doing.
If you are some disconnected manager that thinks he can make decisions or improvements reducing things to single numbers - yeah that’s not possible.
How? Which metrics?
I think it's harder to measure things like developer productivity. The closest thing we have is making an estimate and seeing how far off you are, but that doesn't account for hedging estimates or requirements suddenly changing. Changing requirements doesn't matter for DORA as it's just another sample to test for deployment.
Unfortunately there's a lot of lag
A great generalisation and understatement! Often looking like you are becoming more efficient is more important than actually being more efficient, e.g you need to impress investors. So you cut back on maintenance and other cost centres and the new management can blame you in 6 years time for it when you are far enough away from it to not hurt you.
Measuring it is not the hard part.
The hard part is doing anything about it. If you can't attribute specific outputs to specific inputs, you don't know how to change inputs to maximize outputs. That's what managers need to do, but of course they're often just guessing.