Question 1
Users of Excel tools can use inbuilt data manipulation functions to perform mathematical operations like addition, subtraction, division, and multiplication of large volumes of data arranged in cells within a short period. The outcome of these data manipulation processes can be used to perform analysis based on the information source. For example, if the mathematical data input was sourced from market trends, it will be easy to assess the outcome and perform comparative functions. Eventually, stakeholders or the involved department will engage in critical thinking processes to solve the problem or improve the business. An example is a forecasting tool that will provide information about how the future market trends may be based on current results.
Question 2
Graphic tools would suit a process improvement framework. For example, flowcharting is one of the best tools that can be used to understand and document various organizational processes. These flowcharts provide a breakdown of all functions, helping business organizations comprehend all work efforts in any activity. “Drive,” which stands for defining, reviewing, identifying, verifying, executing, is a suitable tool for the problem-solving framework. Each word used in the acronym represents an inevitable step that should be incorporated until a solution to a problem is achieved.
Delegate your assignment to our experts and they will do the rest.
Question 3
Why has the average waiting time for customers in the banking hall increased from one hour to two hours in the last two weeks?
Why has the number of fraud cases reported by customers increased significantly between June and now, especially from mobile banking platforms?
Why have operating costs increased in the last two months when our profits are continually shrinking?
References
Ozanteaching Descriptive Statistics using "Data Analysis" tool in Excel . Youtube. (2011). Retrieved 8 November 2020, from https://www.youtube.com/watch?v=5MFjwM6K5Sg .
Breyfogle, Forrest. “Five Tools for Process Improvement and Lean Six Sigma.” Quality Magazine RSS , Quality Magazine, 17 Feb. 2020, https://www.qualitymag.com/blogs/14-quality-blog/post/92040-five-tools-for-process-improvement-and-lean-six-sigma.
Wingard, Landy. Top 10 Banking Industry Challenges - And How You Can Overcome Them . 0AD, global.hitachi-solutions.com/blog/top-10-challenges-banking-financial-organizations-can-overcome.
