Sensitivity Analysis is a method used to quantify the impact of change in one or more input variables on the output variable. Its most common usage is in the financial sector in order to develop a financial model (predicting the outcome basis the inputs) and to optimize the model.
Root Cause Analysis (RCA)
Root Cause Analysis (RCA) - is a problem solving method which is used to identify the root causes for an issue or a problem. A cause is called a root cause if it is actionable and if actioned will prevent the recurrence of the issue. 5-Why, Fishbone Analysis and Affinity Diagrams are some of the common tools used in RCA.
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by Prashanth Datta on 22nd March 2019.
Applause for all the respondents- Natwar Lal, Saounak L, Prashanth Datta, Arvindh Pradheep Shanmugam, Somsagar Karke, Tarun Gupta, Srinivas Sandepudi.
Also review the answer provided by Mr Venugopal R, Benchmark Six Sigma's in-house expert.