It's a subtle difference, but "reporting" and "measuring" mean quite different things to me.
It feels like "measuring" is far more actionable. When you measure your sofa you know if it will fit in your living room. You don't report on your sofa dimensions to a third party for approval.
Reporting seems inherently generic. Measuring immediately ties the action to the "what" – what are you measuring? What are you measuring against?
Nobody measures for the sake of it – there's always a reason or a need. People produce reports on meaningless numbers all the time. Reports don't always have conclusions.
At the end of the week do you want to produce a report on a bunch of numbers, or do you want to measure your progress against your aims as a business?
Next time you're looking at metrics for your business, ask yourself if you're merely reporting them, or measuring something.