Optimism Bias
A cognitive bias that causes people to believe they are less likely to experience negative events and more likely to experience positive events than others.
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IoT
Internet of Things (IoT) refers to a network of interconnected physical devices embedded with electronics, software, sensors, and network connectivity, enabling them to collect and exchange data.
Minimize Waste
A principle in lean management aimed at reducing non-value-added activities to improve efficiency.
Red Ocean
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability.
Data Distribution
The spread and pattern of data values in a dataset, often visualized through graphs or statistical measures.
Social Selling
The use of social media platforms to connect with prospects, build relationships, and ultimately drive sales.
Usability Risk
The risk that users will find the product difficult or confusing to use, preventing them from effectively utilizing its features.
Actor-Observer Bias
A cognitive bias that causes people to attribute their own actions to situational factors while attributing others' actions to their character.
Intention Action Gap
The discrepancy between what people intend to do and what they actually do.