Business Operations and Process Optimization Strategies
Chapter 4: Forecasting Accuracy
Mean Absolute Deviation (MAD)
Mean Absolute Deviation (MAD) is a metric used to evaluate the accuracy of forecasting. It represents the average of the absolute differences between forecasted values and actual values, providing a measure of overall forecast error.
Calculating MAD
| Quarter | Actual Tonnage Unloaded | Forecast with a = 0.10 | Forecast with a = 0.50 |
|---|---|---|---|
| 1 | 180 | 175 | |
| 2 | 168 | 175.50 = 175.00 + 0.10 (180 – 175) | |
| 3 | 159 | 174.75 = 175.50 + 0.10 (168 – 175.50) | |
| 4 | 175 | 173.18 = 174.75 + 0.10 (159 |
Multilevel Feedback Queues and Process Management
Planning Processor Queues: Multi-Level Feedback
Provide a structure to achieve the following objectives:
- Encourage shorter works.
- Encourage work limited by input/output to optimize the use of devices for input/output.
- Determine the nature of the work as quickly as possible and plan the work (process) accordingly.
A new process enters the ready list at the end of the upper tail. It moves through the FIFO queue until the CPU. If the job ends or leaves the CPU to wait for the completion of an input/output
Read MoreDigital Analytics: Key Concepts and SEO Strategies
Understanding Cookies and Their Role in Web Analytics
A cookie is a small piece of data sent from a web server and stored in a web browser. Every time a web browser makes a request to a server, this data is sent back to the server along with the request. As the request is fulfilled, the web server can also update the cookie in the browser.
The Mission and Vision of Data Analysis
The mission of data analysis is to obtain all the necessary information for decision-making in our business. The vision:
Read MoreKey Concepts in Building Construction and Structural Design
Structural Systems
- Wall System (Longitudinal, Transverse, and Bidirectional): Load-bearing walls can be longitudinal, transverse, or bidirectional. Longitudinal walls run along the length of the building, while transverse walls run perpendicular to the length.
- Skeletal System (Column and Beam Frames): Includes columns and beams. It is suitable for multi-story buildings and allows for great flexibility in interior design.
- Combined System: Mixes elements of walls and columns. Used to optimize the benefits
Industrial Maintenance: Techniques, Models, and Optimization
Maintenance Definition
Maintenance is the set of techniques designed to conserve plant and equipment in service for as long as possible and with maximum efficiency.
Reliability-Centered Maintenance (RCM)
RCM is a technique to develop a maintenance plan, which has some important advantages over other techniques. Initially developed for the aviation sector, where the cost of replacement parts threatened the profitability of companies, RCM provides good results:
- Improved compression performance of the
Physiological Metrics and Brand Impact on Consumer Behavior
Physiological Metrics in Marketing
1. Electrodermal Activity (EDA)
Electrodermal Activity measures how well electricity passes through the skin, influenced by sweat from the autonomic nervous system (ANS). More sweat equals better electricity flow. This indicates arousal or stimulation (fight-or-flight response), but not specific emotions (valence). Devices like wristbands or sensors are commonly used.
Example in Marketing: When testing a new ad, if EDA spikes during an exciting scene, it shows that
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