Affinity Diagram
A tool used to organize ideas and data into groups based on their natural relationships.
235 topics found for
“decision-making process”
Introspection Illusion
A cognitive bias where people wrongly believe they have direct insight into the origins of their mental states, while treating others' introspections as unreliable.
Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter.
Occam’s Razor
A principle that suggests the simplest explanation is often the correct one, favoring solutions that make the fewest assumptions.
Performance Metrics
Measurements used to evaluate the success of an organization, employee, or process in meeting goals.
VOC
Voice of the Customer (VOC) is a process for capturing customers' expectations, preferences, and aversions.
Instrumental Value
The worth of something based on its ability to help achieve a desired end or goal.
Law of Diminishing Returns
A principle stating that as investment in a single area increases, the rate of return on that investment eventually decreases.
5V’s of Big Data
Characteristics of big data defined as Volume, Velocity, Variety, Veracity, and Value.