Error while submitting form using AJAX and php

I believe it is because you are trying to set object properties that are undefined.

Your javascript should look like this

var measrumentData = {
    profile_name:null,
    value_one:null,
    value_two:null

};
// Grab our post meta value
measrumentData.profile_name = $( '#savem #profile_name' ).val();
measrumentData.value_one = $(' #savem #value1').val();
measrumentData.value_two = $(' #savem #value2').val();

or

var measrumentData = {};
// Grab our post meta value
 measrumentData['profile_name'] = $( '#savem #profile_name' ).val();
 measrumentData['value1'] = $(' #savem #value1').val();
measrumentData['value2'] = $(' #savem #value2').val();