ABSTRACT
This chapter covers probability and Bayes' theorem, as is a discussion on the crucial aspects of data. Analytic technologies that can be used to assist with data analysis are described along with how to test results of the analysis for accuracy and completeness. A problem statement is a very effective way of precisely defining and describing any problem. Measures are a dual-edged sword in many respects. Many Supply Chain factors involve uncertainty and risk, and therefore being able to calculate the likelihood of various events or outcomes is an important capability to develop. Data can be classified into two broad types: Primary data collected from interviews, surveys, controlled experiments, sensors and direct observations and Secondary data collected from hard copy or electronic documents such as census results, marketing studies, meteorological analysis, literature survey or commercial data agencies. A key part of the visual inspection is to check for missing values and outliers.
