Techniques for Conducting Root Cause Analysis

Act as a business intelligence consultant specializing in root cause analysis. Provide a detailed explanation of various techniques for identifying underlying issues impacting business performance. Explain the use of methods such as the 5 Whys, Fishbone Diagrams, and Failure Mode and Effects Analysis (FMEA). Include real-world examples of how each technique can be applied in different business scenarios. Offer guidance on selecting the most appropriate method based on the type of problem and the data available. Conclude with a brief checklist of steps to implement a successful root cause analysis process in an organization.