Moneyball
The practice of using data analytics and metrics to make informed decisions, focusing on measurable outcomes and efficiency rather than intuition or traditional methods.
186 topics found for
“decision analysis”
Berkson’s Paradox
A statistical phenomenon where two independent events appear to be correlated due to a selection bias.
Mapping
The process of creating visual representations of data or information to enhance understanding and decision-making.
Big Data
Extremely large data sets that can be analyzed computationally to reveal patterns, trends, and associations.
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.
Survivorship Bias
A cognitive bias that occurs when conclusions are drawn from a non-representative sample, focusing only on successful cases and ignoring failures.
Forecasting
The process of making predictions about future trends based on current and historical data.
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.
Hindsight Bias
A cognitive bias where people perceive past events as having been more predictable than they actually were.