Tag Archives: curiouscat

The Greatest Wall Street Danger of All: You

re: Born Suckers [the broken link was removed] – The greatest Wall Street danger of all: you by Henry Blodget. Henry Blodget mentions two profoundly (though simple) important factors that lead to poor investment decisions: Prospect Theory and Outcome Bias. … Continue reading

Posted in Investing | Tagged , | 1 Comment

Taguchi Loss Function

Topic: Management Written in response to this post on the Deming Electronic Network (DEN) [broken link removed]. The responses on this topic show the strength of the DEN. 1) thoughtful responses that should help the person posting the original message … Continue reading

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NYC Travel Photos

In August I spoke to the Fordham University Deming Scholars MBA Program. I spent the weekend with my brother’s family in Brooklyn. The photo to the left shows my nephew at the Statan Island Children’s Museum. The photo accurately conveys … Continue reading

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Management Improvement History

I do believe we need to improve our practice of Quality (and to do that we need to understand what happened in the past and why it was not more successful). The idea that Design of Experiments (DoE) was at the core of some Quality Movement to me is not at all accurate. In my experience only a few Quality professionals today understand what it means and how it should be applied. The idea that it was common place in the 40’s I seriously doubt (though I don’t have first hand knowledge of this). I find it difficult to believe we would have decided to stop using DoE if it was commonly done previously. The understanding I have from those that should know (like George Box and previously my father – Bill Hunter) is that it was not at all common practice and still is not outside of a few industries and even there it is isolated in the domain of a few experts. Continue reading

Posted in Deming, Design of Experiments, Lean thinking, Management, Popular, Process improvement, Quality tools, Six sigma, Statistics | Tagged , , , , , , , , , , , , | 4 Comments

Dangers of Forgetting the Proxy Nature of Data

We use data to act as a proxy for some results of the system. Often people forget that the end result is not for the number to be improved but for the situation to be improved. We hope, if the measure improves the situation will have improved. But there are many reasons this may not be the case (one number improving at the expense of other parts of the system, the failure of the number to accurately serve as a proxy, distorting numbers, etc.). Continue reading

Posted in Data, Deming, Management, Popular, quote, Systems thinking | Tagged , , , , , , , , , | 7 Comments