ANALYSIS OF VARIANCE – IMPORTANT INSTRUMENT FOR EFFICIENT MANAGEMENT IN DYNAMIC AND UNCERTAIN BUSINESS ENVIRONMENT
 
Rosen Todorov
 

Abstract: The contemporary managers have the responsible challenge of choosing between different existing or possible alternatives. In their intention for success, managers face many problems and difficulties. This requires decision-making in an environment of uncertainty, risks, adverse selection, moral hazard, market failures etc. Such factors makes the decision-making a challenge that requires specific knowledge and skills. It is necessary to be considerd the important issue of knowing and using the methods by which the empirical data from the processes in the organization could be analyzed. This is connected with the fact that in search of high efficiency and competitiveness, modern manufacturers are constantly expanding the range of inplementation of artificial intelligence and automation of work processes. But regardless of the precision of modern technologies, the multiple repetition of the same processes and operations creates an opportunity for a deviation of the current process from the target. In this regard, the main purpose of the report is to try to clarify the importance of using proven statistical tools for dealing with the strategic problem of variation in the processes.
 
Key words: analysis of variance, statistical methods, management, innovations
 
„The belief that your idea of reality is reality itself is the most dangerous of all deceptions.“
 
Paul Watzlawick
 

 
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