Gaurav_Mathur

One of the types of control chart is cumulative sum (CUSUM) chart which is used to monitor small shifts in the process mean. The cumulative sum of deviations are used from a target. The purpose of this chart is to check if the process is on target or not. The CUSUM chart plots sum of the deviations of samples or subgroup means from the target. The CUSUM chart found to be extremely useful in identifying small shifts in the process mean. On comparing the CUSUM chart with the traditional chart, the former helps in detecting the small change in process mean while latter is to monitor the process within the control limits and indicating any impact of process improvements. Though, all processes will have drift in the mean but If small shifts in the average isn’t of that importance then control chart would work fine otherwise, CUSUM chart would be helpful if there is no scope of minute error in the process. Since CUSUM control chart works on sum of deviations versus the actual values of the process being used in the individual control chart, the disadvantage of CUSUM chart is seen that underlying data of process is being lost.

The platform economy is for business activities enabled by platforms. These platforms are computer systems which host services to help the people to sell & purchase products online. The Platform Economy are based extensively on cloud computing and algorithmic revolution. Amazon, Uber, Airbnb, etc. are some companies using Platform Economy. The three types of platforms are – 1. Transaction platforms- these act as a virtual marketplace for different groups of people. E.g. Amazon, Facebook, etc. 2. Innovation platforms- customers are provided with frameworks that can be adapted to individual use. 3. Integration platform- combination of the transaction and innovation platform e.g. Apple App Store or Google Play. To improve the quality of the platform economy as mentioned below – · Provide the Lean Six Sigma training to the employees to apply the knowledge in identifying and implementing the process improvement initiatives. These can be done by encouraging Brainstorming sessions among team members. This will help the companies to improve the quality of the products. · Lean and Six sigma can help in improving the customer satisfaction by bringing the improvement in products inventory basis the sales and interest shown by the consumer. · FMEAs can be done to ensure that all Failure Modes are covered. · End-end process can be improved by eliminating the non-value added activities involved in the platform

A chi-squared test (χ2) is basically a comparison of two statistical data sets. It is also known as Pearson’s Chi-Sqaure test for categorical data analysis and distribution. It is a method used for comparing experimentally obtained results with those to be expected theoretically on some hypothesis. Chi-Square Formala χ2 = ∑(Observed Values – Expected Values)2/Expected Values Chi-square test of goodness of fit is a test to test how well an observed distribution fits to a theoretical one. The chi-square test of goodness of fit helps us to compare the distribution of classes of observations with an expected distribution. Chi-square test of independence is used to test for a relationship between two categorical variables. It uses the fact to compute expected values under the assumption that the two variables are independent. This test is for categorical data used for two independent variables and want to check if there is any relationship between the variables. Chi-square test of homogeneity tests to see whether different columns (or rows) of data in a table come from the same population or not.

The Fractional odds, Decimal odds, and American odds are the three types of betting odds which represents the same thing. 1. Fractional odds are written with a slash (/) for e.g. 5/1 which can be called as five-to-one. A fractional odd of 5/1 means that you win $5 against every $1 you put at stake which is addition to the stake value. Formula à Total Amount = [Stake x (Numerator/Denominator)] + Stake 2. Decimal odds are comparatively easier to understand. The decimal odds number represents the total amount instead of profit. Formula à Total Amount = Stake x Decimal Odd Number Fraction to Decimal odd can be done by dividing the fraction and then add one as shown in the example below: 5/1+1 = 6.0 And for Decimal odd to fractional odd is about minus one from the decimal odd as shown in below example: 2.5 – 1 = 1.5 = 15/10 = 3/2 3. American odds are represented by a minus (-) sign, indicating the amount you need to stake to win $100. Also, some low probability winners are shown by a positive (+) sign, indicating the amount won for every $100 staked.

Design of experiments (DOE) in six sigma helps in preventing process variation and thus improving processes. Quality teams works on DOE to identify major factors of process variation and finding variables that can be improved to reduce the variation and delivery high quality services. The three elements of DOE tool are – · Factors – Input to the process which can be either controllable or uncontrollable variable. · Levels - Measurement of how much a factor has been modified. · Response – Output of the experiment The reasons for the limited usage of DOE in corporate sectors can be – · Lack of awareness and knowledge regarding DOE · Measuring the process performance accurately can be a challenge at times as it has multiple noise factors · Seen as time consuming activities The challenges can be overcome by educating and making them aware about the DOE benefits. The DOE can help in reducing the process variations and have a long-term benefits for the process and organization as a whole. Showcasing successful implementation of such tool can help immensely in promoting and buy-in from the leadership or stakeholders.

Technical debt or code debt is about developing a solution with no so perfect code or low-quality code to speed up the delivery of the project which needs to be refactored. This has usually been seen in the software development. Technical Debt can lead to many consequences like poor productivity, financial burden, high maintenance, etc. Technical debt can be managed through below points – To reduce the overall cost, the development team needs to put consistent efforts. To reduce the technical debt, refactoring to be taken in account if the system is performing smoothly and as expected. Technical debt to be reduce periodically and a plan to made to ensure that technical debt is reduced. Maintaining a knowledge base is extremely useful at any stage of the development. It helps the development team to access the required information and get the effective solution quickly. Technical debt can have multiple challenges including financial and hence, lower the better. The technical debt ratio should not be more than 5%.

A time series is a sequence of data in accordance with occurrence over time. It is a uniformly spaced observations over the period of time. The data is formed by collecting data over a long range of time and can be hours, days or months. Time series represents the relationship between two variables – 1) time and 2) any quantitative variable. Time series helps to predict future behaviour of variable basis past experience. Hence, it helps in studying the past behaviour of the variable. The time series components are – · Trend – It is used to see the trend going upward, downward or constant basis the slope of the trend line. · Seasonal – This can be easily highlighted in the time series graph. It shows the peaks and lows of a variable at a regular interval · Cyclic Variations – It occurs as a change in qualitative nature of the variable. It is difficult to detect from a graph and can be missed in a short term data.

Data visualization is the art of presenting data with the help of graphical representation of information and data. It uses charts, graphs, and data visualization tools which helps the users with the details present in the data and provide essential insights. It is important in data science as it helps with the important insights and details which might get lost in the tables. The two prominent data visualization tools are Power BI and Tableau. Both are robust tools which helps the users with the data insights. Here are the comparisons between the two – 1. Power BI is provided by Microsoft that can analyse, visualize, and extract insights from data. While Tableau is a powerful Business Intelligence tool that manages data flow and provides actionable information. 2. Power BI is easy to use, faster and performs better when the volume of data is limited while Tableau can cater to large volume of data. 3. Power BI is a Microsoft product, it can easily be integrated with other Microsoft products. 4. Power BI works on Azure Machine learning platforms along with SQL Server based Analysis Services while Tableau supports Python machine learning. 5. Tableau is expensive as compared to Power BI

Refactoring in Agile means improving the internal structure of an existing program’s source code without disturbing the external behaviour of the software. It is one of the critical and important practice for having success with an agile adoption. The benefits of Refactoring can be seen as improving the code to ensure ease of maintenance, simple and easy to understand and importantly, keeping the pace of deliverable consistent despite there are changes in the code. The development team should consider it while initiating the software project and anticipating changes during it’s lifecycle.

Human-centered design revolves around a technique when focus is on the people who is experiencing the problem and identifying their needs/requirement. They are included at the centre of the development process with the objective of developing a solution which meets their needs as expected and more effectively. It is also considered as an extension of design thinking methodology. It also follows the below steps – Empathize – understanding the user needs Define – Clarifying and defining the problem Ideate – generating creative ideas with the help of brainstorming sessions Prototype – Create a prototype and adopts a hands-on experience Test – Develop & implement a solution