Business Acumen
The ability to understand and deal with various business situations, making sound decisions to ensure successful outcomes.
150 topics found for
“business decision-making”
BI
Business Intelligence (BI) encompasses technologies, applications, and practices for the collection, integration, analysis, and presentation of business information.
BRE
Business Rules Engine (BRE) is a software system that executes one or more business rules in a runtime production environment.
Satisficing
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome.
Behavioral Economics
The study of psychology as it relates to the economic decision-making processes of individuals and institutions.
OODA Loop
Observe, Orient, Decide, and Act (OODA) is a decision-making framework often used in strategic planning and rapid response situations.
Weighted Scoring
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively.
Business Analytics
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions.
McNamara Fallacy
The error of making decisions based solely on quantitative observations and ignoring all other factors.