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Each process go through a flow of DMAIC ie Define - Measure - Analyse - Improve - Control. Whenever there is an input and an outputs are their in the process; each transaction has to be recorded in the form of data. The same can further analyse / compared with the same sample of diferrent time span and the trend can be analyse again for diferrent insides. External relavent data and trends are also has a vital role to play as comparisions of all these data, analysis and trends gives more accurate insides which will enable for taking decisions.
The right data when applied through right techniques (Statistical and business objective) to answer the problem will ensure accurate insights. The accurate insight will enable right decision making and sometimes guides to right actions.
The approach should be ->
1. Define the problem and then identify the data, metrics which will result in right KPI
2. Frame regression model using KPI, train and improvise model to minimize error
3. Identify insights to aid decision making and define actions to resolve the problem stament.
4. Automate the process for future application
