The first chapter of "Measure What Matters" is basically devoted to telling about why measuring is important in social--that is, gathering and analyzing data about customers and potential customers. The chapter gives examples of how measuring has helped companies improve their efficiency and get ahead of the competition. It closes by dispelling a lot of the myths surrounding measurement, such as the idea that it will bring bad news (obviously the bad news it would bring would exist without measurement) or that it will somehow damage those who subject themselves to it. The author asserts that is quite the contrary of the true consequences for assuming accountability.
To be honest, there wasn't a great deal that I got out of this chapter. In fairness, that's probably just because of how much the previous books we've read have covered the importance of measurement in social media, so reading a whole chapter devoted to it is mostly just telling me things I already know. For an outsider, and someone who doesn't yet understand the importance of measuring, this chapter would probably be more interesting, particularly if you believed any of the myths dispelled at the end. (I didn't, and while I don't doubt that there are people who believe them, they mostly seemed obviously wrong to me, not to sound pretentious.)
I imagine a lot of this book will focus mostly on how to measure, rather than just why, which is a subject that could cover a lot more new ground than this chapter did. Again, this chapter did make all of its points perfectly well, it just didn't really tell me much that I didn't already know, but obviously my perspective is a bit different than the average reader's by this point.
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