Digital Twin
A digital replica of a physical entity, used to simulate, analyze, and optimize real-world operations.
145 topics found for
“decision optimization”
Satisficing
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome.
Monte Carlo Simulation
A statistical technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate systems.
Critical Thinking
The objective analysis and evaluation of an issue in order to form a judgment.
Weighted Scoring
A prioritization method that assigns different weights to criteria based on their importance, helping to make informed decisions and prioritize tasks effectively.
Histogram
A graphical representation of the distribution of numerical data, typically showing the frequency of data points in successive intervals.
Bye-Now Effect
The tendency for people to defer purchasing decisions to a later time, often leading to procrastination.
Heuristic
A rule-of-thumb or shortcut that simplifies decision-making and problem-solving processes.
Sales Metrics
Data points that represent an individual's, team's, or company's performance in the sales process.