Pro-Innovation Bias
The tendency to overvalue new innovations and technologies while undervaluing existing or traditional approaches. Important for balanced decision-making and avoiding unnecessary risks in adopting new technologies.
21 topics found for:
“balanced evaluation”
Weighted Scoring
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively. Crucial for making objective and balanced decisions in project management and product development.
Design Tradeoffs
The compromises made between different design options, balancing various factors like usability, aesthetics, and functionality. Essential for making informed decisions that optimize overall design effectiveness.
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value. Important for making informed business and design decisions.
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. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
Focusing Effect
A cognitive bias where people place too much importance on one aspect of an event, causing errors in judgment. Important for understanding decision-making and designing interfaces that provide balanced information.
Moral Luck
A phenomenon where the success or failure of a design or business outcome is influenced by external factors beyond the control of the decision-makers, akin to serendipity. Important for recognizing and accounting for external influences in performance evaluations to ensure fair assessments and informed decisions.
CAC
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.
Keyword Density
The percentage of times a keyword appears in a text relative to the total number of words, used to evaluate the relevance and optimization of a webpage for specific search terms. Important for optimizing content for search engines without overstuffing keywords.
Horn Effect
A cognitive bias where one negative trait of a person or thing influences the perception of other traits. Important for designing experiences that counteract or mitigate negative biases in user perception.
Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean. Crucial for understanding decision-making and judgment under uncertainty.
Portfolio Management
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
Illusory Superiority
A cognitive bias where individuals overestimate their own abilities, qualities, or performance relative to others. Important for understanding user self-perception and designing systems that account for inflated self-assessments.
Value vs. Complexity
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it. Crucial for making informed decisions about feature prioritization and resource allocation.
UCD
User-Centered Design (UCD) is an iterative design approach that focuses on understanding users' needs, preferences, and limitations throughout the design process. Crucial for creating products that are intuitive, efficient, and satisfying for the intended users.
Surrogation
The process by which a measure or metric comes to replace the underlying objective it is intended to represent, leading to distorted decision-making. Important for ensuring that metrics accurately reflect true objectives and designing systems that prevent metric manipulation.
Risk Compensation
The theory that people adjust their behavior in response to the perceived level of risk, often taking more risks when they feel more protected. Important for designing safety features and understanding behavior changes in response to risk perception.
Illusory Truth Effect
A cognitive bias where repeated statements are more likely to be perceived as true, regardless of their actual accuracy. Crucial for understanding how repetition influences beliefs and designing communication strategies for users.
Survivorship Bias
A cognitive bias that occurs when conclusions are drawn from a non-representative sample, focusing only on successful cases and ignoring failures. Crucial for making accurate assessments and designing systems that consider both successes and failures.
Scarcity Tactics
A dark pattern where availability is falsely limited to pressure users into making a purchase. Awareness of this deceptive practice is important to provide honest information about product availability.
Risk-as-Feelings Theory
A theory that emphasizes the role of emotions in risk perception and decision-making, where feelings about risk often diverge from cognitive assessments. Important for designing systems that account for emotional responses to risk and improve decision-making.