Continuous data can have any value within a given range. Compare this to discrete data which is limited in the values it takes.
For example, the number of dots on a pair of dice or the number of wheels on a car limit you to a finite set of values. Measuring the size of the dice or the temperature of those wheels, with a precise enough measuring device, could give you infinite results. The dice might be 0.746″ and 0.748″, for example.
CRM stands for customer relationship management. It essentially is the practice of taking an active approach to understanding how a company interacts with its customers and creating a strategy to manage that relationship for both current and future customers.
In practice, CRM is typically used to describe software systems, of which many are available.
PDSA stands for Plan-Do-Study-Act, or less commonly, Plan-Do-Study-Adjust.
It is a structured, iterative problem-solving approach popularized by W. Edwards Deming, who originally was mentored on the process by Walter Shewhart. With that origin in mind, it should come as no surprise that this method is also known as the Deming cycle.
Little’s Law is a basic mathematics equation for calculating lead time. In the layman’s version, it says:
Lead time = Number of units in WIP / Average Production Rate
Indirect costs are those expenses that are not directly attributable to a single cost center or cost object (product line, service, etc.) Indirect costs may include shared resources or overhead.
Administrative costs, website costs, IT infrastructure, and similar expenses fall into this category.
A Master Black Belt is an individual who has been certified to train other black belts. Black belts are the trainers and continuous improvement team coaches for a company.
Having a Master Black Belt is a credential. It is not a job title. Most who attain that level have committed to a career in continuous improvement. They often end up in senior roles where they support the Lean or Six Sigma strategy for an organization. You might see a Master Black Belt as a Lean Manager, Director of Continuous Improvement, or Vice President of Operational Excellence.
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