Six Sigma has steadily gained in popularity since its introduction in the 1980s at Motorola. Based on quality methodologies and the Japanese focus on reducing defects, it represents a systematic approach to understanding and managing processes. The DMAIC methodology is used for process improvement, while DMADV is used for creating new processes and products. But Six Sigma is about more than just conducting projects, it is a philosophy and mindset that impacts the way a business is run.

Frequently, business leaders make decisions based on beliefs about what customers want, what causes problems and how to solve problems, without actually confirming they are correct. Six Sigma insists on data to confirm problems, causes and solutions. Six Sigma involves assessing problems with processes, clarifying causes and brainstorming solutions. When done properly, Six Sigma includes the people who perform the processes and who are affected by any changes to those processes in this endeavor.

Many financial institutions began using Six Sigma methods in the past three to five years in order to improve performance - reduce costs, improve the customer experience, grow revenue, develop future leaders and change the culture to make decisions based on facts and data. Most financial institutions chose to use Six Sigma in their operations areas, which have traditionally been considered the best candidates for Six Sigma work.

Six Sigma works because it focuses on customers. It generates customer loyalty by focusing on customer feedback and creating effective improvement projects geared to fixing and eliminating customer concerns. Six Sigma programs strive to reduce cycle time and eliminate waste by implementing regular results driven improvement projects. Data collection and analysis is critical before the decision making process, because Six Sigma operates on a critical routine of data based decision making. This systematic strategy helps assist with sustained gains and improvements in profits.

Prohut is conducting Six Sigma training at Delhi, Noida, Gurgaon, NCR, Ghaziabad, etc.