Six Sigma is a data-driven methodology for improving processes by reducing variability. It was developed by Motorola in the 1980s and aims for near perfect processes with fewer than 3.4 defects per million opportunities. The Six Sigma methodology uses statistical tools and involves defining problems, measuring processes, analyzing data, improving processes, and controlling them. It focuses on customer satisfaction and uses roles like Black Belts, Green Belts, and Master Black Belts. Many large companies have implemented Six Sigma and achieved savings of 1-4.5% of revenue through reduced costs and improved quality.