With Hexagon Manufacturing Intelligence’s recent announcement of its inclusion in the NASCAR Competition Partner Program, details on the strategic partnership have emerged. By cementing this tie, the two companies can expand a professional relationship that will enable them to focus on precision, quality control, standards, reliability, and performance.

Like any other industry,…

The Weibull distribution is a continuous probability distribution often used in reliability analysis to model time-to-failure and product lifespans.

It has applications in engineering, medicine, energy, and insurance. It’s also good at describing survival statistics, such as survival times after cancer diagnosis or electric bulb failure times. It’s used in the pharmaceutical…

A food company spends months and significant budget on consumer research before launching a new product. The survey scores are strong, so the store managers stock it. Six months later, the product is quietly pulled from the shelves. The consumers who said they would buy it didn’t.

This pattern—confident prelaunch research followed by disappointing sales—is one of the most…