21 topics found for:

“data variability”

Outliers

Data points that differ significantly from other observations and may indicate variability in a measurement, experimental errors, or novelty. Crucial for identifying anomalies and ensuring the accuracy and reliability of data in digital product design.

Three-Sigma Rule

A statistical rule stating that nearly all values in a normal distribution (99.7%) lie within three standard deviations (sigma) of the mean. Important for identifying outliers and understanding variability in data, aiding in quality control and performance assessment in digital product design.

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. Important for understanding the distribution of data and making predictions about data behavior in digital product design.

Morphological Analysis

A problem-solving method that explores all possible solutions by examining the structure and relationships of different variables. Useful for generating innovative design solutions and exploring a wide range of possibilities in digital product development.

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.