Optimization Theory
The study of finding the best solution from a set of feasible solutions.
145 topics found for
“decision optimization”
Prescriptive Analytics
The use of data, algorithms, and machine learning to recommend actions that can achieve desired outcomes.
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.
Product Optimization
The process of continuously improving a product's performance, usability, and value through data-driven decisions and iterative enhancements.
Take the Best Heuristic
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information.
Moneyball
The practice of using data analytics and metrics to make informed decisions, focusing on measurable outcomes and efficiency rather than intuition or traditional methods.
Bounded Rationality
A concept that humans make decisions within the limits of their knowledge, cognitive capacity, and available time, leading to satisficing rather than optimal solutions.
Design Tradeoffs
The compromises made between different design options, balancing various factors like usability, aesthetics, and functionality.
Smart Defaults
Pre-set options in a system that are designed to benefit users by simplifying decisions and guiding them towards the best choices.