Digital Twin
A digital replica of a physical entity, used to simulate, analyze, and optimize real-world operations.
150 topics found for
“business decision-making”
CoD
Cost of Delay (CoD) is a metric that quantifies the economic impact of delaying a project, feature, or task.
Discounted Utility
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones.
Product Council
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line.
Active Choice
A decision-making strategy where individuals are prompted to make a choice rather than defaulting to a pre-set option.
Belief Bias
The tendency to judge the strength of arguments based on the believability of their conclusions rather than the logical strength of the arguments.
Placing Bets
A strategic approach where multiple potential solutions are tested to identify the most promising one.
Behavioral Game Theory
The study of strategic decision making, incorporating psychological insights into traditional game theory models.
RICE Scoring Model
A prioritization framework used in product management to evaluate features based on Reach, Impact, Confidence, and Effort.