# Category: Performance Management

• ## Box Plot

Also known as Box and Whisker Plot and Whisker Plot. A box plot is a graph that shows the frequency of numeric data values. It is mainly used to explore data as well as to present the data in an easy and understandable manner. Box plots are one of the easiest and most useful ways to understand…

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• ## Histogram

Also known as Frequency Distribution Diagram. Variants include Dot Plot and Pareto Chart. One of the best ways to analyze any process is to plot the data on a graph or chart. A histogram is a graph which shows the frequency of continuous data values. It is a type of bar chart that can be…

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• ## Graphical Analysis

Graphing the data can be utilized for both historical data already available and when analyzing the data resulting from live data collection activities. Of course, you need to pick the right graphical tool as there are a lot of different ways to plot your data. A number of commonly used graphical tools will be covered…

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• ## Normal Distribution

Continuous distributions describe variables that take values from a continuous range and can be measured with any degree of accuracy. The commonest and the most useful continuous distribution is the normal distribution. The Normal Distribution is a symmetrical probability distribution where most results are located in the middle and few are spread on both sides.…

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• ## Probability Distributions

Most improvement projects and scientific research studies are conducted with sample data rather than with data from an entire population. A Probability Distribution is a way to shape the sample data to make predictions and draw conclusions about an entire population. It refers to the frequency at which some events or experiments occur. It helps…

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• ## Descriptive Statistics

Descriptive statistics are methods of describing the characteristics of a data set. It includes calculating things such as the average of the data, its spread and the shape it produces. It involves describing, summarizing and organizing the data so it can be easily understood. Graphical displays are often used along with the quantitative measures to…

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• ## Lean Concept of Value

Also known as VA NVA Analysis and Value-Added Analysis. Variants include Waste Analysis. Oftentimes, we tend to create additional steps to a process in order to fix a problem or enhance a situation. Over time, these additional activities become an established part of the process although they do not add any value to the product…

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• ## Lean Concept of Waste

Also known as the Eight Wastes and the Eight Deadly Wastes and the eight forms of waste. Variants include the Seven Wastes. In a Lean culture, waste is anything that doesn’t add value from the customer’s perspective. It includes activities that consume resources, add cost to the product or service but contribute zero value to…

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• ## Value Stream Mapping: A Visual Approach to Process Optimization

Also known as Material and Information Flow Analysis and Value Stream Analysis. A Value Stream Map (VSM) is a high-level visual representation of a business process. It helps to understand the flow of value through the process as perceived by the customer. The primary goal is to identify and eliminate waste and make the process…

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• ## Exploring Histograms and Box Plots: Similarities and Differences

Histograms and box plots are graphical representations for the frequency of numeric data values. These visual tools serve the purpose of describing the data and exploring the central tendency and variability before using advanced statistical analysis techniques. In this article, we will further discuss the similarities and differences between these two tools.

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