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VOC

Voice of the customer (VOC) refers to the detailed process of capturing a customer’s expectations, preferences, and aversions (customer service). The Voice of the Customer is a marketing research technique that generates a detailed set of customer needs and...

Voice of The Business (VOB)

Table of contentsWhat Does VOB Stand For?Understanding the Importance of VOBRelated Articles Estimated reading time: 4 minutes What Does VOB Stand For? In the context of Six Sigma, VOB typically stands for “Voice of the Business.” The term refers to the...

Value-Added

The Lean Six Sigma value-added is a crucial part of lean thinking. It can be defined in many different ways depending on the context. Lean thinking is about defining the value proposition of the product or service to the customer. Value can only be relevant at a...

Type II Error

In statistical hypothesis testing, a type II error is the non-rejection of a false null hypothesis (also known as a “false negative” finding or conclusion). Much of statistical theory revolves around the minimization of one or both of these errors, though...

Type I Error

Type I errors play a significant role in statistical hypothesis testing. It occurs when researchers mistakenly reject a null hypothesis that is actually true. Understanding Type I errors is crucial in any field that relies on data analysis and hypothesis testing, such...