What is standard deviation in SAP MFG-ME - SAP Manufacturing Execution?

SAP Term: standard deviation

• Component: MFG-ME

• Component Name: SAP Manufacturing Execution

• Description: A measure of the spread of the process output or the spread of a sampling statistic from the process.

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• Key Concepts: 
  Standard deviation is a statistical measure of the amount of variation or dispersion of a set of data values from the mean. It is calculated by taking the square root of the variance. In SAP Manufacturing Execution (MFG-ME), standard deviation is used to measure the variability of production processes and to identify areas for improvement. 
  
  How to use it: 
  Standard deviation can be used to measure the variability of production processes in SAP MFG-ME. It can be used to identify areas where processes are not performing as expected and to identify potential areas for improvement. The standard deviation can be calculated by taking the square root of the variance. 
  
  Tips & Tricks: 
  When using standard deviation in SAP MFG-ME, it is important to remember that it is a measure of variability and not accuracy. It should be used in conjunction with other measures such as mean absolute error or root mean square error to get a more accurate picture of process performance. 
  
  Related Information: 
  For more information on using standard deviation in SAP MFG-ME, please refer to the official SAP documentation on the topic. Additionally, there are many online resources available that provide further information on how to use standard deviation in various contexts.