Tag Archives: box

Value Stream Mapping


Value Stream Mapping

A Value Stream Map (VSM) is a visual representation that helps to understand the flow of value in a business process as perceived by the customer. Its primary goal is to identify and eliminate waste (Muda) and make the process as close to lean as possible. It is considered as an improvement tool rather than just a definition of how the process operates or should operate. Although it is often associated with manufacturing, it can also be applied in product development and service related industries such as: healthcare, hospitality and logistics.

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Histograms and Boxplots

Histograms:

Histograms and Boxplots

A histogram is a graphical representation of a frequency distribution for numeric data. It is a bar chart that is often used as the first step to determine the probability distribution of a data set or a sample. It allows to visually and quickly assess the shape of the distribution, the central tendency, the amount of variation in the data, and the presence of gaps, outliers or unusual data points. Read more »»