We learned in science class that we should use the scientific method to evaluate hypotheses. Yet somehow, once we enter industry we throw that early learning out the window and fall prey to several pitfalls in experimentation and data interpretation.

The ability to make predictions has always been rewarded. Statistician Donald J. Wheeler says that “prediction is the essence of business.” With growing bodies of data and good analytical models, our predictions are getting better.

Corrective action is an essential tool for any business. It helps to identify adverse events and pinpoint any systemic issues that must be resolved. However, a corrective action system can’t work effectively by itself.