Final answer:
A real-life example of the Seven Basic Tools (Managerial & Operational Analytics) would be a retail business using the Pareto Chart to prioritize customer complaints. Another example is a project manager using the Cause and Effect Diagram. Furthermore, a hospital can utilize the Control Chart to monitor patient falls.
Step-by-step explanation:
A real-life example of the Seven Basic Tools (Managerial & Operational Analytics) would be a retail business using the Pareto Chart to identify and prioritize the most common customer complaints. By analyzing the data, the business can focus on addressing the top complaints and improving customer satisfaction. This tool helps businesses allocate their resources effectively and make data-driven decisions for process improvement.
Another example is a project manager using the Cause and Effect Diagram (also known as the Fishbone Diagram) to determine the root cause of a problem in a construction project. By identifying the main causes of delays, for example, the project manager can take corrective action to eliminate or mitigate those causes, leading to a smoother and more efficient project execution.
Furthermore, a hospital can utilize the Control Chart to monitor the number of patient falls on a monthly basis. By plotting the data on the chart and comparing it to control limits, the hospital can quickly identify any abnormal variations and take preventive measures to reduce the number of falls and improve patient safety.