Thin Data
Quantitative data that provides broad, numerical insights but often lacks the contextual depth that thick data provides.
198 topics found for
“decision-making behavior”
Predictive Analytics
The use of statistical techniques and algorithms to analyze historical data and make predictions about future outcomes.
Pattern Recognition
The ability to identify and interpret patterns in data, often used in machine learning and cognitive psychology.
Continued Influence Effect
The persistence of misinformation in memory and influence on reasoning, even after it has been corrected.
Normal Distribution
A statistical distribution where most occurrences take place near the mean, and fewer occurrences happen as you move further from the mean, forming a bell curve.
Decoy Pricing
A strategy where an additional, less attractive option is introduced to make other pricing options look more appealing, often steering customers towards a particular choice.
Chaos Theory
The study of dynamic systems that are highly sensitive to initial conditions, leading to unpredictable behavior.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship.
Liking Principle
A psychological principle where people are more likely to be influenced by those they like.