If you are trying to explain the importance of quality to management, then you need to explain it to management using the language of management — costs and return on investment. Crosby described the cost of quality as the cost of nonconformance. Juran, another quality guru, explained it as the cost of poor quality or the costs incurred as a result of poor quality. What Is the Cost of Poor Quality (COPQ)? Continue reading What Is the Cost of Poor Quality?
How can data science help you retain or onboard your clients? Understanding what your customer experience metrics say about your business is exactly what you need to improve both onboarding and retention. This guide will cover customer onboarding basics, customer retention basics, and four ways to use data science to improve customer onboarding and retention.
Where business people can find non-technical, big picture, practical information about Business Intelligence (BI), Performance Management, and Data Warehousing (DW). How do businesses use business intelligence? Continue reading How Do Businesses Use Business Intelligence?
Basic Cost Accounting Information starts with cost: a financial measure within your accounting management system defined as resources consumed or acquired in accomplishing a specified purpose such as performing a service, providing a product, or carrying out a project or program regardless of when the resources were ordered, received, or paid. Cost can be defined in a variety of ways depending on the objectives or information desired. Continue reading What Are the Uses of Cost Accounting Information?
Working remotely has suddenly become the new reality for so many businesses and working professionals. With the outbreak of the COVID-19 pandemic, millions of people went from working in an office to working from home. And, this sudden shift made team managers, leaders, and business owners confused and worried about keeping the business up and running. This explains the sudden need for innovative KPI solutions, which begs the question: how do you measure the effectiveness of remote working? Continue reading How Do You Measure the Effectiveness of Remote Working?
Information defines your business, representing not only your organization’s past experience, but also its future potential. Your usage of technology to manage your information could be a source of strategic advantage. But information is not enough. You need knowledge and wisdom to build an organization. Continue reading Use Knowledge and Wisdom from Information as a Strategic Advantage
Worrying statistics have found that 43% of all cyber-attacks target small businesses. These figures point to other precarious facts, for instance: about half of all small businesses don’t survive the first cyber attacks. Continue reading Using Behavioral Analytics to Boost Business Cyber-Security
You may know how to use cause-effect diagrams and scatter diagrams to identify the causes of problems and to quantify the impact of solving those problems. Before you try to understand control charts, you need to understand the concept of correlation and how to analyze correlation between variables data. Continue reading How Do You Analyze Correlation?