How Accurate and Reliable is Your Data?

Six Sigma is a process improvement methodology that uses facts and data to make decisions, not hunches and opinions.  It is obviously important that we use facts and data that are accurate and reliable.  The more important the decision and the more serious the consequences, the more care we need to take when collecting data. […] read more

Which Index is Representative of How the Stock Market is Really Performing?

In an earlier article in this series I discussed the use of sample data drawn from a larger population for the purposes of making decisions.  The data in the sample must be representative of the larger population in order for it to be useful in decision making.  Consider the stock market in general.   What is […] read more

Why Business Process Management is so important

The entire country watched in disbelief last week as a United Airlines passenger was forcefully pulled off an overbooked flight to give room for crew members. The passenger had a valid ticket and boarding pass and was already in his assigned seat when he was dragged off the plane. How could this happen and why? […] read more

On April 17th, 2017, posted in: Business Analysis, Six Sigma by

Data Analytics, Part 2

In the previous article, we established that data sets come in two varieties: Population and Samples. We also established that the data sets are uniform, i.e. one single metric is used, like height or color. Now, we want to establish that Statistics focuses on finding 2 things, and 2 things only: what is the average […] read more

On March 31st, 2015, posted in: Business Analysis by