23 topics found for:

“assessment accuracy”

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.

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.

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.

ROI

Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.

PAR

Performance and Accountability Reporting (PAR) is a comprehensive document that outlines an organization's performance in achieving its goals and its accountability in managing resources. This report is essential for transparency, governance, and continuous improvement.