Trading from the Viewpoint of Quality Control

H

harrytrader

Coming from Quality domain, I see many similarities especially with the psychological problems which are not only psychological and I will develop those points in this new thread from time to time.

The title of this thread is inspired by the title of the book from the father of Quality Control: Walter Shewart from Bell Telephones :

Statistical Method from the Viewpoint of Quality Control
by Walter A. Shewhart, W. Edwards Deming (Photographer)

Edwards Deming was his most famous student as he was the Guru who changed Quality management in Japan.

When one read this book one will perceive that it copes heavily more with epistemology than with pure statistics.

http://www.amazon.com/exec/obidos/t...?v=glance&s=books&vi=reader&img=3#reader-link


I hope that this thread will help some people to see what they really lack so as not to get discouraged and have to give up as I saw in the other post.
 
I said I will develop this post later because making people understand is a long process : I experienced novices during several years on Internet and it's always the same behaviors: only 1/10th understand.

Quote from iceman1:

Huh??!
More...
 
The reason why novices don't understand some concepts is because they are abstracts and when they lack experiences it is difficult of course to grasp the importance of what is exposed. You can't replace experiences but you can accelerate your progress with knowledge, that's why you go to school in fact.

So as to be more illustrative I will first create another thread I will call "Food for thoughts". There will be short stories or extracts from articles that can be the supports for this more abstract thread.

Quote from harrytrader:

I said I will develop this post later because making people understand is a long process : I experienced novices during several years on Internet and it's always the same behaviors: only 1/10th understand.
More...
 
To show that quality management could be applied in manay areas

Feds may unleash Six Sigma on terrorism

http://www.usatoday.com/money/companies/management/2002-10-30-sixsigma_x.htm

By Del Jones, USA TODAY

At a time when fighting the war on terrorism has become arguably the most important issue facing the USA, authorities are looking into an unlikely weapon to aid their fight: Six Sigma.

Six Sigma is nothing like a laser-guided smart bomb but rather a statistics-heavy regimen of analyzing problems that has saved corporations billions. (Related story: Taking the Six Sigma approach)


Whether corporate success can be repeated in a federal bureaucracy is an open question. Six Sigma is "powerful stuff" that could work even in the sprawl of the U.S. government, Dell Computer CEO Michael Dell says.
 
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