What is statistical value in SAP QM - Quality Management?

SAP Term: statistical value

• Component: QM

• Component Name: Quality Management

• Description: The value of a statistic.

Smart SAP Assistant

• Key Concepts: 
  Statistical value is a term used in SAP Quality Management (QM) to refer to the numerical value of a quality characteristic. It is used to measure the quality of a product or service and can be used to compare different products or services. Statistical values are typically calculated using statistical methods such as mean, median, and standard deviation. 
  
  How to use it: 
  In SAP QM, statistical values are used to measure the quality of a product or service. They can be used to compare different products or services and can be used to identify areas for improvement. Statistical values can also be used to set quality targets and monitor progress towards those targets. 
  
  Tips & Tricks: 
  When calculating statistical values, it is important to use the correct statistical method for the data being analyzed. For example, if the data is normally distributed, then the mean should be used; if the data is skewed, then the median should be used. Additionally, it is important to ensure that all data points are included in the calculation of the statistical value. 
  
  Related Information: 
  For more information on statistical values and how they are used in SAP QM, please refer to the SAP Help Portal or contact your local SAP representative.