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Min-Max for Range Analysis
This is to see the maximum and minimum values, a measure takes. For example you want to find out on the maximum value geological disturbances in a given seismic location. OR you want to find out on the maximum load generation, when you switch on an electrical device.
Outliers Analysis
Outliers are similar to the range analysis, but with a different purpose. Outliers are exception values less in occurrence, but having an impact on the aggregations like sum and averages. For example you want to find out average delivery TAT for a product. These results could show that taking out these top 2% instances can bring down the overall average of delivery TAT by 10%.
Standard Deviation Analysis
Any performance is a combination of how one is performing on an average and how much is the consistency of performance. 'Standard deviation' is a measure of consistency. |
