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Focused on lean tools, concepts and ideas, our Lean Wiki is a selection of key explanations to help you become familiar with the Lean methodology. We explore some of the key ideas behind Lean Thinking and explore core Lean terminology and principles.
Confidence intervals are a powerful tool for making well-informed business decisions. A confidence
The chi-square test is a statistical method used to compare differences between two or more variables. This test can be
The Central Limit Theorem (CLT) is a statistical theory that states that given a sufficiently
An Introduction to the Box Plot In this post, we provide a comprehensive overview of the box plot. The
The Box Cox Transformation is a popular method of transforming non-normal dependent variables into a
Lean Six Sigma is a process improvement methodology that can help businesses achieve dramatic performance improvements. But what is Benchmarking,
The Analysis of Variance, commonly known as ANOVA, is a statistical technique used to compare means between two or more
In the business world, data comes in all types of shapes, sizes, and forms. However, it can generally be classified
There are a lot of assumptions in life. We make assumptions based on our past experiences, the opinions of others,
The Assessment Criteria for Solutions As a professional, knowing the assessment criteria for solutions is crucial. This way, you can
“Standardise what you do to create the space you need to change what you do.” If you and
Visual management is becoming increasingly important in today’s business world as companies strive to manage their operations and resources effectively.
With technology advancing so fast, evaluating the impact technology will have on the culture of the organisation in the short
“Culture is simply a shared way of doing something with a passion.” – Brian Chesky, Co-Founder, CEO, Airbnb As a
The Lean supply chain relies on value creation – not just price reduction. All too often, we identify the partners
Genchi Genbutsu is a Lean methodology, which focuses on seeing and understanding the actual work of a process or system
“Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly.” – The Toyota Way All too often, we
The 8 wastes of Lean TIMWOODS are a powerful set of tools that can help organisations become more efficient and
Kaizen, the Japanese concept of continuous improvement, is a philosophy that encourages ongoing, incremental changes that cumulatively lead to significant
Confidence intervals are a powerful tool for making well-informed business decisions. A confidence interval is an interval in which we can be certain of the parameters or values necessary to make accurate and reliable predictions about population parameters. By understanding what a confidence interval is, how it works and its importance to your organization, you’ll gain valuable insight into strategic decision-making that can help drive future success.
The chi-square test is a statistical method used to compare differences between two or more variables. This test can be
The Central Limit Theorem (CLT) is a statistical theory that states that given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples from the same population will be approximately equal to the mean of the population. Furthermore, if you plot the distribution of these sample means, it will form a normal distribution (bell curve), regardless of the shape of the original population distribution. The CLT is fundamental in statistics because it allows for considerable simplification and provides a method for making inferences about population parameters based on sample data.
An Introduction to the Box Plot In this post, we provide a comprehensive overview of the box plot. The
The Box Cox Transformation is a popular method of transforming non-normal dependent variables into a normal shape. This technique helps to stabilize variance and can improve the accuracy of any subsequent statistical tests or models. The transformation is named after statisticians George Box and David Cox who developed the technique in the 1960s. It involves taking the natural logarithm of a variable and then raising it to some power (lambda) which is determined by maximum likelihood estimation. The lambda value will depend on how skewed the data is, meaning that a different lambda will be used for different data sets. This transformation can be used in regression, ANOVA, and many other applications where there is a need to transform non-normal data into normal form.
Lean Six Sigma is a process improvement methodology that can help businesses achieve dramatic performance improvements. But what is Benchmarking,
The Analysis of Variance, commonly known as ANOVA, is a statistical technique used to compare means between two or more
In the business world, data comes in all types of shapes, sizes, and forms. However, it can generally be classified
There are a lot of assumptions in life. We make assumptions based on our past experiences, the opinions of others,
The Assessment Criteria for Solutions As a professional, knowing the assessment criteria for solutions is crucial. This way, you can
“Standardise what you do to create the space you need to change what you do.” If you and
Visual management is becoming increasingly important in today’s business world as companies strive to manage their operations and resources effectively.
With technology advancing so fast, evaluating the impact technology will have on the culture of the organisation in the short
“Culture is simply a shared way of doing something with a passion.” – Brian Chesky, Co-Founder, CEO, Airbnb As a
The Lean supply chain relies on value creation – not just price reduction. All too often, we identify the partners
Genchi Genbutsu is a Lean methodology, which focuses on seeing and understanding the actual work of a process or system
“Make decisions slowly by consensus, thoroughly considering all options; implement decisions rapidly.” – The Toyota Way All too often, we
The 8 wastes of Lean TIMWOODS are a powerful set of tools that can help organisations become more efficient and
Kaizen, the Japanese concept of continuous improvement, is a philosophy that encourages ongoing, incremental changes that cumulatively lead to significant
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