In Six Sigma, reducing variation is principle #2. It’s noted that when planning for Six Sigma, variation is undesirable because it creates an uncertainty of achieving your desired outcome. If the desired outcome you’re seeking is always profitability – then anything that may deviate from that model should be evaluated.
Savvy companies know that in order to grow, more resources need to be applied to products and services that perform. Often, that means weeding out options that may be under-performing. The trouble is, some companies don’t have the data to know the difference. It’s important to develop a process for pulling data on the performance of your offerings. Sit down and take an objective look at how each category is performing, and make a commitment to decrease the offerings that are not up to par in each.
I’m Andri, Team Captain at Enshored. As someone who works closely with Back-Office Support, I’ve found that data analysis is a critical process. Whilst all data is important, continuous data analysis enables us to more easily identify trends, spikes, and periods of increased/decreased demand. The understanding of consumer behavior is integral to the success of any business.