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Love them or hate them, there’s no denying the impact that influencers have on consumers purchasing decisions. Heard about influencer partnerships but not sure where to get started or if it’s the right marketing strategy for your business? You’re in the right place. In this article, we cover everything you need to know about influencer […]
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Exchange Rate Regimes
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In the so called Modern times, we happen to be living in a fast paced high tech society. Use of technology has become the backbone of our daily life. You are able to be in the comfortable environs of your home or office and manage all of your domestic chores such as banking, booking an […]
The Six Sigma philosophy believes in statistical facts. There is no room for error and therefore there is no room for guessing or judgement. Therefore the few inputs that were guessed for being the critical ones in the earlier stages of define and measure now need to be confirmed with statistical analysis.
The purpose of the analyze module is two phased:
Before the introduction of Six Sigma into business, the common practise was to have a business problem and then quickly start working towards a business solution. However in Six Sigma the approach is process focussed and data driven.
The approach is to first convert the business problem into a statistical problem. The data collected in the measure phase is then used to solve this statistical problem and come to a statistical conclusion. This statistical conclusion guides the appropriate plan of action which is then put into effect in a very controlled manner.
The analyze phase receives inputs in the form of identification of the possible few critical inputs to the process being improved. For instance if a cars servicing service process is being improved, the critical inputs that may make it to the analyze stage could be the technical expertise of the workers, the place of service, the time required for service and so on. This information acts as the raw data. However, it is not only this list that must come as the input. Six Sigma professionals can do little more than look at such lists. For each input that has been classified as critical, the measurements collected by running the process must also be available. This will enable the Six Sigma team to statistically prove the inputs which are critical.
The following are the outputs from the Analyze phase:
It is this thorough methodical approach that is used by Six Sigma in finding out issues that makes it more successful than any other quality tool. Reliance on facts is the main feature of Analyze phase as well as of the Six Sigma methodology.
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What the Current Wave of Protectionism and Populism mean for the Future of Globalization and Free Trade
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