Tool Set for Improving Transactional Processes

I have only recently joined a bank after working in more engineering oriented environments.  One of my first observations when I started to apply statistical tools was the inadequacy of the data - not the volume, which is immense, but the lack of standardisation in what was being measured, i.e. the operational definitions were unclear.  As a result, the immediate opportunities for improvement lie more with the use of Lean tools (eg batch reduction, removing queues and achieving flow, identifying and removing waste, etc.).

Long term I will be working on developing standards and understanding the drivers of work, so that performance expectations can be set.  This will likely involve tools like DOE to identify the affect of individual drivers and various potential interactions (there are many probable ones) on the time it takes to complete an activity.  Once an operational definition based on the content of the work units is established, rather than the current definition, which revolves around a marketing definition.  I hope to be able to group operationally similar work units and understand the causes of variation within these groups. At that point I will be in a better position to apply the more statistical based tools.

My colleges believe that the nature of work performed in approving loans does not lend itself to standards, and therefore statistical analysis  – they may be right, but I need to prove it.

Regards,