Design Validation
The process of testing and evaluating a design to ensure it meets user needs and business goals before final implementation.
57 topics found for
“risk assessment”
Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean.
Value Risk
The risk that the product being developed will not deliver sufficient value to the users, meaning it won't meet their needs or solve their problems.
KYC
Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship.
Category Size Bias
A cognitive bias where people judge the likelihood of an event based on the size of its category rather than its actual probability.
Test Marketing
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch.
Empirical Rule
Also known as the 68-95-99.7 Rule, it states that for a normal distribution, nearly all data will fall within three standard deviations of the mean.
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.
Ratio Bias
A cognitive bias where people judge the likelihood of an event based on its relative size rather than absolute probability.