Educational assessmentEducational assessment or educational evaluation is the systematic process of documenting and using empirical data on the knowledge, skill, attitudes, aptitude and beliefs to refine programs and improve student learning. Assessment data can be obtained from directly examining student work to assess the achievement of learning outcomes or can be based on data from which one can make inferences about learning. Assessment is often used interchangeably with test, but not limited to tests.
Cost-effectiveness analysisCost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action. Cost-effectiveness analysis is distinct from cost–benefit analysis, which assigns a monetary value to the measure of effect. Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect.
Cost–utility analysisCost–utility analysis (CUA) is a form of economic analysis used to guide procurement decisions. The most common and well-known application of this analysis is in pharmacoeconomics, especially health technology assessment (HTA). In health economics, the purpose of CUA is to estimate the ratio between the cost of a health-related intervention and the benefit it produces in terms of the number of years lived in full health by the beneficiaries. Hence it can be considered a special case of cost-effectiveness analysis, and the two terms are often used interchangeably.
Traffic collisionA traffic collision, also called a motor vehicle collision (car crash in case cars are involved in the collision), occurs when a vehicle collides with another vehicle, pedestrian, animal, road debris, or other moving or stationary obstruction, such as a tree, pole or building. Traffic collisions often result in injury, disability, death, and property damage as well as financial costs to both society and the individuals involved.
Risk-seekingIn accounting, finance, and economics, a risk-seeker or risk-lover is a person who has a preference for risk. While most investors are considered risk averse, one could view casino-goers as risk-seeking. A common example to explain risk-seeking behaviour is; If offered two choices; either 50asasurething,ora50100 or nothing, a risk-seeking person would prefer the gamble. Even though the gamble and the "sure thing" have the same expected value, the preference for risk makes the gamble's expected utility for the individual much higher. Risk compensationRisk compensation is a theory which suggests that people typically adjust their behavior in response to perceived levels of risk, becoming more careful where they sense greater risk and less careful if they feel more protected. Although usually small in comparison to the fundamental benefits of safety interventions, it may result in a lower net benefit than expected or even higher risks. By way of example, it has been observed that motorists drove closer to the vehicle in front when the vehicles were fitted with anti-lock brakes.
Information systemAn information system (IS) is a formal, sociotechnical, organizational system designed to collect, process, store, and distribute information. From a sociotechnical perspective, information systems are composed by four components: task, people, structure (or roles), and technology. Information systems can be defined as an integration of components for collection, storage and processing of data of which the data is used to provide information, contribute to knowledge as well as digital products that facilitate decision making.
Information managementInformation management (IM) is the appropriate and optimized capture, storage, retrieval, and use of information. It may be personal information management or organizational. IM for organizations concerns a cycle of organizational activity: the acquisition of information from one or more sources, the custodianship and the distribution of that information to those who need it, and its ultimate disposal through archiving or deletion.
Decision theoryDecision theory (or the theory of choice; not to be confused with choice theory) is a branch of applied probability theory and analytic philosophy concerned with the theory of making decisions based on assigning probabilities to various factors and assigning numerical consequences to the outcome. There are three branches of decision theory: Normative decision theory: Concerned with the identification of optimal decisions, where optimality is often determined by considering an ideal decision-maker who is able to calculate with perfect accuracy and is in some sense fully rational.
Decision-making softwareDecision-making software (DM software) is software for computer applications that help individuals and organisations make choices and take decisions, typically by ranking, prioritizing or choosing from a number of options. An early example of DM software was described in 1973. Before the advent of the World Wide Web, most DM software was spreadsheet-based, with the first web-based DM software appearing in the mid-1990s. Nowadays, many DM software products (mostly web-based) are available – e.g.
