Scarcity Principle
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior.
88 topics found for
“data value”
Endowment Effect
A cognitive bias where people ascribe more value to things merely because they own them.
Linear Regression
A statistical method that models the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data.
Bundling Bias
A cognitive bias where individuals evaluate the value of bundled items differently than they would if the items were evaluated separately.
Product Optimization
The process of continuously improving a product's performance, usability, and value through data-driven decisions and iterative enhancements.
Strategic Differentiation
The process of distinguishing a product or service from its competitors in a way that is meaningful to the target market.
Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison.
Digital Transformation
The integration of digital technology into all areas of a business, fundamentally changing how it operates and delivers value to customers.
Decision Utility
The value or satisfaction derived from a decision, influencing the choices people make.