Normal Data Distribution
A symmetrical, bell-shaped distribution of data where most observations cluster around the mean.
186 topics found for
“decision analysis”
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value.
McNamara Fallacy
The error of making decisions based solely on quantitative observations and ignoring all other factors.
Critical Thinking
The objective analysis and evaluation of an issue in order to form a judgment.
Analytics
The systematic computational analysis of data or statistics to understand and improve business performance.
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of data values.
Decision Theory
The study of how individuals make choices among alternatives and the principles that guide these choices.
SWOT Analysis
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project.
Decision Tree
A tree-like model of decisions and their possible consequences, used in data mining and machine learning for both classification and regression tasks.