Often there is difficulty in reporting numbers. Using a spreadsheet for scorecarding or creating a dashboard is very popular, but is it a good decision? It was reported that research studies have shown problems with spreadsheet-reporting such as Excel. 94% of spreadsheets contain errors 57% of spreadsheet users have never received formal training 72% of [...]
Posts Tagged ‘predictive scorecards’
Build an organization’s predictive scorecards and management system
Last week I was on-site at a mining company working with management to continue their build of the Integrated Enterprise Excellence (IEE) Business Management system. The primary focus of the trip was to refine the mine’s initial defined IEE value-chain metrics with its predictive scorecards. The four-day trip was very successful, work days lasting as [...]
Quality Expo Conference Presentation on Minimizing Risks
Wednesday at the Quality Expo Conference, I am to be presenting on the topic, “Minimizing Risks through a Predictive Measurement system.” Measurements provide a means for understanding product and/or process risks; however, many traditional performance reporting methodologies can deceive. Traditional performance reporting assessments such as Acceptable Quality Level (AQL), process capability indices (Cp, Cpk, Pp, [...]
Bayesian Statistics Thinking in Business Management
The article, The Mathematics of Changing Your Mind, notes how when facts change opinions are altered. Bayes’ theorem was named after Thomas Bayes who addresses the essential task of how we should modify our beliefs in the light of additional information. Should old assumptions be held too long after they have become weak, or should [...]
How can business statistics be created so that they do not deceive?
Many traditional performance metrics/assessments can deceive (e.g., AQL, Cp, Cpk, Pp, Ppk, stacked bar charts, pie charts, and red-yellow-green scorecards). I will be sharing my thoughts at the Quality Expo in Chicago (Sept 20-21) on what can be done to address these issues. My session will be conducted during the morning of September 21. One [...]
