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43 Terms
1
After Action Review
A review of recent decisions to identify possible improvements for future actions.
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2
Anchoring and Adjustment Bias
A cognitive bias where individuals rely too heavily on the first piece of information encountered when making decisions.
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3
Autonomous Devices
Technological tools that operate without human intervention.
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4
Availability Bias
A cognitive bias that occurs when people overestimate the importance of information readily available to them.
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5
Bounded Rationally
A concept stating that decision makers are limited by the information they have, cognitive limitations, and the time available.
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6
Brainstorming
A technique for generating multiple ideas and alternatives to solve a problem.
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7
Categorical Thinking Bias
A bias where individuals classify information into distinct categories, often oversimplifying complex issues.
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8
Confirmation Bias
The tendency to favor information that confirms one's existing beliefs and ignore information that contradicts them.
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9
Consensus
General agreement among group members.
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10
Decision
A choice made from available alternatives.
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11
Decision Making
The process of identifying and choosing among alternative courses of action.
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12
Decision-Making Style
The combination of how an individual perceives and responds to information in the decision-making process.
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13
Decision Tree
A graph of decisions and their possible consequences.
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14
Descriptive Analytics
The analysis of past data to understand what has happened.
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15
Diagnosis
The process of analyzing the underlying causes of a problem.
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16
Electronic Brainstorming
A method of brainstorming done using electronic means to facilitate idea sharing.
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17
Escalation of Commitment Bias
The tendency to continue investing in a decision despite evidence that it is a bad choice.
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18
Ethics Officer
An individual responsible for overseeing ethical practices in a corporation.
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19
Evidence-Based Decision Making
A decision-making process that relies on data and factual evidence.
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20
Framing Bias
Cognitive bias that affects how information is presented and perceived.
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21
Goal Displacement
When the primary goal of a decision is replaced by secondary goals.
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22
Groupthink
A phenomenon where group members prioritize consensus over realistic appraisal of alternative courses of action.
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23
Heuristics
Mental shortcuts that simplify decision making.
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24
Hindsight Bias
The tendency to see events as having been predictable after they have already occurred.
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25
Hubris
Excessive pride or self-confidence, often leading to poor decision making.
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26
Intuition
The ability to understand something instinctively, without the need for conscious reasoning.
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27
Machine Learning
A subset of artificial intelligence where systems learn from data to improve their performance over time.
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28
Minority Dissent
The expression of differing opinions by a minority within a group.
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29
Nonrational Models of Decision Making
Models that acknowledge that decision making is often uncertain and risky.
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30
Opportunities
Situations that present possibilities for exceeding existing goals.
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31
Overconfidence Bias
The tendency to overestimate one's own abilities or the accuracy of one's predictions.
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32
Predictive Analytics
Techniques for analyzing current and historical data to make predictions about future outcomes.
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33
Problems
Difficulties that inhibit the achievement of goals.
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34
Rational Model of Decision Making
A systematic, structured approach to decision making that includes identifying the problem, generating alternatives, evaluating solutions, and implementing decisions.
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35
Representativeness Bias
A bias where people judge the probability of an event by finding a comparable known event.
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36
Satisficing Model
A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal one.
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37
Sham Participation
A nominal participation process where the input of participants has little impact on the outcome.
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38
Sunk-Cost Bias
A bias where individuals continue a venture once an investment in money, effort, or time has been made.
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39
Value
The importance or worth of something, often measured against personal or organizational goals.
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40
Variety
The range of different things.
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41
Velocity
The speed at which data is generated, processed, and analyzed.
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Veracity
The truthfulness or accuracy of data.
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Volume
The amount of data that is generated or processed.
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