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Chapter 1 Summary: Managing a Consumer Lending Business

Date: April 24, 2021 Coming from an SME lending background, I feel that I need to acquire knowledge in Retail Finance and adjust my thinking for my new position. I asked my previous supervisor, what kind of materials are helpful. He recommended the book called, Managing a Consumer Lending Business.

Seasonal Data: Making Sense of Data Chapter 16, 17, 18

I have combined a summary of Chapter 17, 18 into one blog post since they all talk about how to handle seasonal data. Chapter 17 talks about how to smoothing out seasonal data. Chapter 18 talks about how to adjust the data to allow for seasonality. Chapter 16 talks about

Charts for Count Data: Making Sense of Data Chapter 13

In the following 3 chapters, the author will talk about count data. It may sound easy to count. But, there are some subtleties to keep in mind when interpreting count data. The author introduces a concept called Areas of Opportunity. Before we can define what is Areas of Opportunity and

Interpreting the Process Behavior Chart: Making Sense of Data Chapter 8

In this chapter, the author talks about how to detect the signal of assignable cause from a process behaviour chart. He first presents the characteristics of a predictable process, and then gives three major detection rules for an unpredictable process. However, my concern is how can we communicate them to

What Makes the XmR Chart Work? Making Sense of Data Chapter 11

In Chapter 7: Visualize Your Process Behavior, the author introduces a tool called the XmR chart. XmR chart is used to detect assignable causes/ unpredictable events/ events that are outside routine variations. With that purpose in mind, the XmR chart includes two limits, Upper Nature Process Limit (UNPL) and Lower

Visualize Your Process Behaviour: Making Sense of Data Chapter 7

In this chapter, the author introduces two types of variation, predictable and unpredictable, and the improvement strategies applied to each variation respectively. XmR chart is also presented as a tool to distinguish the types of variation. However, the author does not explain why XmR chart works in this Chapter. This

Some Arithmetic: Making Sense of Data Chapter 6

This chapter is also basic. It is about some common summary statistics, relationships between ratios, percentages, and proportions, and data types. I am not going to cover the summary statistics here since I am sure you already know what is averages, medians, ranges, root mean square deviations, and standard deviations.