We don’t like volatility. Nobody likes volatility.
—Lionel Guerdoux Managing Partner,Capricorn Venture Partners
Uncertainty is something organizations struggle to deal with. A few examples of devices organizations use to cope with uncertainty include pro formas, which are prepared for a variety of contingencies; forecasts that are created with confidence intervals to assess the magnitude of uncertainties; production planning, which often involves an attempt to predict the range of unpredictable possibilities that render the plan obsolete on a nearly daily basis; and order quantities that include safety stock.
Statistical process ...