This article is an excerpt from Alan Greenspan’s latest book, “The Map and the Territory: Risk, Human Nature, and the Future of Forecasting”.  As Lean Six Sigma professionals, we also value data and statistical modeling to solve problems.  We need to realize as Greenspan indicates don’t discount the negative tail in your analysis or the emotional – “animal spirits”, a spontaneous urge to action rather than inaction.  This can skew our results.  There are ways we can validate this occurrence through Gemba walks to observe the data in real time and testing the Cpk for manual override of the process.

Article Link:  http://www.foreignaffairs.com/articles/140161/alan-greenspan/never-saw-it-coming

Gary Kapanowski – Lean Six Sigma Master Black Belt – Excelsior

The following blog is the opinion of Gary Kapanowski and Garykapanowski.com.  It is the sole intent to broadcast this opinion from Gary Kapanowski and Garykapanowski.com exclusively and not to reflect on any other institutions or organizations associated with Gary Kapanowski or Garykapanowski.com.

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