303 topics found for:

“accurate assessment”

Usability

The degree to which a product or system can be used by specified users to achieve specified goals with effectiveness, efficiency, and satisfaction in a specified context of use. Essential for creating products that are easy to use and meet user needs effectively.

Prospect Theory

A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known. Crucial for understanding decision-making under risk and designing systems that align with user behavior.

KYC

Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship. Essential for preventing fraud, money laundering, and terrorist financing, particularly in financial services, while also ensuring compliance with regulatory requirements and building trust with customers.

Surrogation

The process by which a measure or metric comes to replace the underlying objective it is intended to represent, leading to distorted decision-making. Important for ensuring that metrics accurately reflect true objectives and designing systems that prevent metric manipulation.

Empirical Rule

Also known as the 68-95-99.7 Rule, it states that for a normal distribution, nearly all data will fall within three standard deviations of the mean. Important for understanding the distribution of data and making predictions about data behavior in digital product design.

Indexing

The process by which search engines organize and store web content to facilitate fast and accurate information retrieval. Crucial for understanding how search engines work and ensuring that web content is accessible and searchable.

Ratio Bias

A cognitive bias where people judge the likelihood of an event based on its relative size rather than absolute probability. Important for understanding user decision-making biases and designing systems that present information accurately.

Usability Risk

The risk that users will find the product difficult or confusing to use, preventing them from effectively utilizing its features. Crucial for making sure the product is user-friendly and intuitive, enhancing the user experience and adoption.

T-Shirt Sizing

A relative estimation technique used in Agile project management to quickly assess the size and complexity of tasks by assigning them T-shirt sizes (e.g., small, medium, large). Crucial for efficient project planning and workload management.

GIGO

Garbage In-Garbage Out (GIGO) is a principle stating that the quality of output is determined by the quality of the input, especially in computing and data processing. Crucial for ensuring accurate and reliable data inputs in design and decision-making processes.

Introspection Illusion

A cognitive bias where people wrongly believe they have direct insight into the origins of their mental states, while treating others' introspections as unreliable. Important for designing experiences that account for discrepancies between user self-perception and actual behavior.

Negative Prompt

In AI and machine learning, a prompt that specifies what should be avoided or excluded in the generated output, guiding the system to produce more accurate and relevant results. Crucial for refining AI-generated content by providing clear instructions on undesired elements, improving output quality and relevance.

MRR

Monthly Recurring Revenue (MRR) is a metric that quantifies the predictable revenue generated each month from customers. This metric is crucial for SaaS companies to track financial health and growth.