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What is the value of data?

Six Sigma – iSixSigma Forums Old Forums General What is the value of data?

Viewing 7 posts - 1 through 7 (of 7 total)
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  • #32903

    Mike Archer
    Participant

    Hello.
    I am working a GB project with an objective to begin collecting data that is not currently being collected.
    The problem is that we miss an opportunity to collect valuable data on quality inspection results because of production downtime resulting from inspector availability.  My team has developed metrics on all of the CTQs, but this is where we are at a loss:  We need to express the amount of pain we are feeling (in dollars) by not collecting this data; it is our big Y.  Any suggestions are greatly appreciated.
    TIA,
    Mike

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    #88402

    Ropp
    Participant

    Mike,
    Apparently someone is denying you resources.  Your Champion is responsible to remove obstacles.  If he or shee is not helping, you can use “honey” or “vinegar” to get what you need.

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    #88404

    Mike Archer
    Participant

    Dave,
    I should state this more clearly:  The results of quality inspections are not being recorded.  My GB project is an initiative to begin doing so.  How valuable will this data be in dollars to the company?  This where I need assistance:  I cannot conceive a way to quantify the value of the data or the pain of not having the data.
    TIA
    Mike

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    #88407

    lin
    Participant

    One possibility might be to look at the current cycle times on past Six Sigma projects. Let’s say, as an example, that 15 projects were run and the average cycle time was 120 days. Now, you complete your project with the implementation of the data collection. Now you complete more projects and the cycle time is 90 days. You should be able to claim savings on realizing the COPQ on projects sooner (cost of money). One major drawback is this would be a trailing indicator which, depending on the number of projects, could take months to prove.

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    #88518

    Mike Archer
    Participant

    Dave,
    Could I get a faster result by using a benchmarking technique?  Maybe I could research a company that uses a similar system and knows a value figure to use.  How would I go about doing something like that?
    TIA
    Mike

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    #88519

    Evan
    Participant

    Mike –
    My company provides data systems for collecting and managing data.  I can put you in touch with a number of people who have tried to do six sigma without and with automated systems.  They could provide you with at least anecdotal information and in some cases perhaps real data.  Please contact me directly if you’d like some contacts. [email protected] http://www.hertzler.com
    Evan
     

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    #88528

    George Chynoweth
    Participant

    Sorry, I can’t give you any $ numbers.  Another approach to mgmt would be by analogy:
    “You can’t manage what you don’t measure”.  Does your company have an employee time clock where folks clock in and out?  If so, why?  So the company can manage employee payroll and benefits – and do it very accurately.  Did they need any $ figures to be convinced to manage by measurement in this case?  If they don’t have a time clock, the company may not be managing anything.  :)
    A good pragmatic argument should go a long way.  Best of luck.
     

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