Data analysis is all about analyzing the past and present data to predict the issues in future. Organizations are using Data Mining and Statistics to make this data-driven decision which is a core part of Data Science.  Data Mining It is the process of extracting previously unknown, comprehensible and actionable information from large...

Quick Guide To R Programming Language For Business Analytics What Is ‘R’ All About? Business Analytics With R or commonly known as ‘R Programming Language’ is an open-source programming language and a software environment designed by and for statisticians. It is basically used for statistical computations and high-end graphics....

8 Deadly Wastes: Lean thinking aims to remove wastes from work processes. Before diving into the 8 wastes, it is important to understand what waste is. Waste is any action or step in a process that does not add value to the customer. In other words, waste is any process that the customer does not want to pay for. The original seven wastes...

Market structures provide a starting point for assessing economic environments in business. An understanding of how companies and markets work allows business professionals and leaders to accurately judge industry and market news, policy changes and legislation and how the economy shapes important decisions. [contact-form-7 id="76417"...

CoPQ stands for ‘Cost of Poor Quality’. It is a measure that specifies the importance of poor quality in terms of monetary value. It is always measured and tracked in terms of money ($ or £, whatever be the underlying currency)Monitoring and tracking Cost of Poor Quality in a defined and standardized manner across the organization and...

Build Verification Testing is basic testing performed on every new build to make sure that it conforms to what is required of it before being passed to the testing or UAT team for further testing. This procedure can also called Build Acceptance Testing or Smoke Testing and is a measure of stability of the software build. This level of testing is...

What is Six Sigma? Six Sigma is a measurement-based strategy for process improvement. It’s a methodology, which aims at improving process and increasing customer satisfaction (Both internal & external). The concept behind this approach is to reduce the variation in processes. This reduction leads to consistent and desired outcomes from...

What is Process Capability? Process capability measures how well the process performs to meet a given specified outcome. It indicates the conformance of a process to meet given requirements or specifications. Capability analysis helps to better understand the performance of the process with respect to meeting customer’s specifications and...

SAP’s sales and distribution function is part of the logistics area. The module contains processes that help a company integrate with its customers.Sales & Distribution (SD) is one of the main and most used modules of SAP R / 3 products alongside the Financial (FI), Controlling (CO), Material Management (MM) and Production Planning (PP)...

What is SAP Financial Accounting (SAP FI)? SAP Financial Accounting (SAP FI) module is the backbone of SAP accounting as it records financial transactions of all movements of goods, services and all other business transactions between the company and its customers and vendors. SAP FI application represents from an accounting perspective a...