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For ____________ items,a favourable variance occurs when actual revenues exceed budgeted revenues.
Statistical Process Control Charts
Tools used in quality control that plot data over time to identify variances from the norm, highlighting potential issues requiring investigation.
Data Analysis
The process of examining, cleaning, transforming, and modeling data to discover useful information, draw conclusions, and support decision-making.
Process Redesign
A method of improving business processes by analyzing and reengineering them for enhanced efficiency, effectiveness, and flexibility.
Dramatic Improvements
Significant positive changes or enhancements, often surpassing expectations.
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