This article was originally published on Built In by Eric Kleppen. Variance is a powerful statistic used in data analysis and machine learning. It is one of the four main measures of variability along ...

The extent to which products meet specifications needs to be systematically monitored in a production process. Product quality will typically be defined by two quantities: deviations from stated ...

Financial variance is the difference between budgeted and actual spending. Positive variance means spending less, negative indicates overspending. Regular monitoring reduces surprises and improves ...