Data Management

Embedded DMAIC Methodology into Financial Knowledge Management System

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Executive Summary

The authors present a "Define, Measure, Analyze, Improve, and Control" (DMAIC) methodology to model the knowledge discovery process for BI applications, specifically in statistical analysis and data mining. They implemented the DMAIC methodology embedded into the existed Financial Knowledge Management System (FKMS), which can be used as an effective means to dramatically improve knowledge product and process quality. It is meant for the achievement of total financial industry power users' satisfaction by producing near defect-free financial knowledge.

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