ASSIGNMENT HELP | Compare and contrast the main advantages and disadvantages of OFAAT and DOE and select the approach

Per the textbook, trying to understand factors that impact the outcomes of business process is an important aspect of improving business operations. Conventional wisdom plans experiment one-factor-at-a-time (OFAAT).
Compare and contrast the main advantages and disadvantages of OFAAT and DOE and select the approach (for example, OFAAT or DOE) that you would use in order to obtain effective business process. Provide a rationale for your response

MODEL ANSWER

Trying to understand the factors that impact a business process will significantly impact the operations of any business. OFAAT is a method of designing experiments that involve testing of individual factors one after the other. The use of this approach has many advantages when compared to other | PLACE YOUR ORDER NOW AT writtask.com | is the most appropriate approach for non-experts, | PLACE YOUR ORDER NOW AT writtask.com | in situations where data is cheap and | PLACE YOUR ORDER NOW AT writtask.com | also more favorable as compared to fractional factorials, especially when the number of runs is limited, and the main goal is to make the… 

The method also has some disadvantages that one has to contend with if at all, one has to rely on | PLACE YOUR ORDER NOW AT writtask.com | disadvantage is that the method may not be efficient | PLACE YOUR ORDER NOW AT writtask.com | to the many unnecessary experimental | PLACE YOUR ORDER NOW AT writtask.com | considers one factor at a time, it also consumes a lot of time and is prone to errors. Another possible disadvantage is that …

In Order to have effective business processes, I would prefer using the design of experiments (DOE) as | PLACE YOUR ORDER NOW AT writtask.com | DOE will provide the ability to understand the interactions of different variables, which is an important aspect that lacks | PLACE YOUR ORDER NOW AT writtask.com | different business processes, DOE will make it possible to evaluate the different inputs while at the same time monitoring the outputs until the best combination is arrived at. Such flexibility is good for any business decision-making process and reduces chances…