Statistics come from word “Statista” which is an Italian word which means any statement It came in to picture somewhere in 1660.
Read MoreWhat is Statistics | Statistics Meaning
Author: Digital E-Learning
What is BCG (Boston Consulting Group) Matrix ? How to Use the BCG matrix
BCG Matrix also known as Boston Consulting group’s matrix is also known as growth-share matrix is a planning tool that plots a company’s offerings in a four-square matrix (Stars, Cash Cows, Question
Read MoreNetwork Diagram in Project Management
Network diagram usually shows a graphical association between different tasks and is used to develop a project schedule and determine the critical paths.
Read MoreConfidence Interval
Confidence interval is the range of estimate we are making. Say for e.g we are 95 % confident that True mean will lie between 40 and 60
Read MoreWhat is Value Add vs. Non-Value Add Activities ? [2023]
Value-added activities directly contribute to customer satisfaction and create a competitive advantage, while non-value-added activities consume resources without delivering any customer benefit. By identifying and eliminating non-value-added tasks, companies can streamline their processes, reduce waste, and enhance overall efficiency, positioning themselves for success in today’s competitive market.
Read MoreRACI matrix : Responsibility Assignment matrix | Definition, Template, Examples [2023]
What is a RACI matrix? RACI matrix is a simple, effective way to define and document project roles and responsibilities.
Read MoreWhat is Rolled Throughput Yield (RTY)? How to Calculate Rolled Throughput Yield (RTY) ?
Yield is percentage non-defective items of all the produced items. Rolled Throughput Yield is the product of each
Read MoreWhat is Lean Manufacturing ? 5 Lean Principles
Lean Manufacturing is an operational excellence strategy that enables us change for the better tomorrow. Lean Manufacturing helps in removing Non Value added activities which constitutes to 95%.
Read MoreWhat is SWOT Analysis | How to do a SWOT analysis correctly with examples ?
Understand the SWOT analysis and how to construct it with help of relevant examples from Google, Microsoft, Amazon & McDonalds.
Read MoreWhat is Six Sigma (6σ) ?
Six Sigma is structured, data driven approach to eliminate or reduce defects from any process whether its is manufacturing or service. Six Sigma is denoted by Greek symbol “6σ” and is a process which refers to 99.99966%.
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