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What is a Scatter Plot?

What is a Scatter Plot?

A scatter plot, or scatter diagram, is a type of graph used to display the relationship between two quantitative variables. Each individual data point is represented by a dot on the graph, where the horizontal (X) axis represents one variable and the vertical (Y) axis...
Benchmarking Explained: How to Set Standards?

Benchmarking Explained: How to Set Standards?

Benchmarking is a strategic tool that organizations use to improve their performance by learning from the best practices of others. It involves comparing specific aspects of a company’s processes, products, or services against industry leaders or top performers in...