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Variables Data
Are quantitative results where measurements are used for analysis. Examples include the diameter of a bearing journal in millimeters, the closing effort of a door in newtons, the concentration of an electrolyte in percent, and the torque of a fastener in newton-meters.

VA/VE
Value Analysis/Value Engineering.
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Value Added Activity
any action that transforms information or material into a product of value to the customer.

Value Stream Map (VSM)
a visual tool used to document the flow of products or services through a system. A value stream is all of the actions required to change raw materials into a product delivered to the customer. The VSM differentiates the value-adding activities of a system from the non-value-adding ones. Recording the time taken for each activity shows what percentage of valuable time an object or person spends in a system. Any non-value-adding time indicates an opportunity for possible improvement within the system. The VSM shows the process flow from order to delivery and includes - a) information & material flow, b) product throughput & cycle times, c) resources utilized, d) value added times and e) location of significant waste. Read more: Best Practices for VSM, Value Streams, Value Stream Map or WMEP.

Voice of the Customer
Customer feedback both positive and negative including likes, dislikes, problems and suggestions.

Voice of the Process
Statistical data that is feedback to the people in the process to make decisions about the process stability and/or capability as a tool for continuous improvement.
 

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