Examlex
What are the methods used to identify improvement opportunities during business process reengineering? How do the methods used for each analysis strategy affect the outcome of the "identify improvement" process?
Monte Carlo Simulation
A computational algorithm that relies on repeated random sampling to obtain numerical results, often used in physical and mathematical problems.
Sales Forecasts
Predictive analysis to estimate the amount of product or service a business will sell during a particular period.
Poisson Distribution
A probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space.
Overbooking
A strategy used by airlines and hotels where more tickets or rooms are sold than available, based on predicted no-shows.
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