This article was originally published on Built In by Eric Kleppen. Variance is a powerful statistic used in data analysis and machine learning. It is one of the four main measures of variability along ...

Cost and schedule variance data are part of earned value analysis, which is a tool that small and large businesses use as an early-warning system to identify and manage problems in ongoing projects.

Even the best budgets rarely turn out exactly the way that planners expect. Whenever you're planning in advance for a period of time, you'll inevitably make some mistakes in your estimates, and it's ...

Small businesses often estimate their inventory. If you operate your business on the basis of inaccurate inventory figures, however, you may experience stock outs -- running out of products when ...

There are a few management essentials every restaurateur needs to know to run a successful business. Tracking your exact food and beverage costs, actual usage and sales—and analyzing the differences ...

Financial variance is the difference between budgeted and actual spending. Positive variance means spending less, negative indicates overspending. Regular monitoring reduces surprises and improves ...