What role does standard deviation play in your quality control processes?
In the realm of Business Intelligence (BI), quality control is paramount. It ensures that products or services meet certain standards and satisfy customer expectations. One statistical tool that plays a crucial role in this process is standard deviation. Standard deviation measures the amount of variation or dispersion from the average. In other words, it indicates whether the data points are tightly clustered around the mean or spread out over a wider range. Understanding standard deviation allows you to grasp the consistency and predictability of your quality control processes.