Six Sigma was developed in the 1980's to reduce defects that were quite common in the manufacturing industry. However, with the development of new concepts and methodologies, Six Sigma is now being used in the service sector as well. It helps to improve the quality of the services rendered. The Six Sigma methodology used in the banking industry is referred to as the DMAIC process. It denotes: define, measure, analyze, improve and control.
Define:
In t...
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