Mba Model Cognitive Biases In Decision Making

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MBA Model. Cognitive biases in decision making

Author : Thomas Schmid
Publisher : GRIN Verlag
ISBN 13 : 3346442470
Total Pages : 13 pages
Book Rating : 4.3/5 (464 download)

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Book Synopsis MBA Model. Cognitive biases in decision making by : Thomas Schmid

Download or read book MBA Model. Cognitive biases in decision making written by Thomas Schmid and published by GRIN Verlag. This book was released on 2021-07-21 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2020 in the subject Business economics - Miscellaneous, grade: 1,7, University of Applied Sciences Constanze, language: English, abstract: Human's mind cannot grasp the causes of events in their completeness, but the desire to find those causes is implanted in man's soul. And without considering the multiplicity and complex-ity of the conditions any one of which taken separately may seem to be the cause, he snatches at the first approximation to a cause that seems to him intelligible and says: "This is the cause!". There are many models and frameworks in use in the business world today, and it is hard to keep track of them all. The MBA Model is designed to provide people with a broad groundling in all the key aspects of business. It is a simplified version of something more complex – it helps to understand a specific phenomenon by identifying its key elements. Management is the art of getting work done through others. It involves marshalling a set of resources to achieve desired objectives. Managers make decisions about allocating people and money in an effective way. There are many analytical tools to help decision making, including decision trees and net present value analysis. Most decision making is not as rational as we might expect it to be. Cognitive biases in decision making discusses why people often make snap judgements that are flawed, and how effective managers can overcome these biases to make better decisions. The following work is based on the theoretical foundations of the MBA model (25 need-to-know MBA models, Birkinshaw, 2017). After clarifying the basics in Part 1, examples of Cognitive Biases will follow. In the end of the Scientific Report the Management failure traced back to cognitive bias get explained.

25 Need-to-Know MBA Models

Author : Julian Birkinshaw
Publisher : Pearson UK
ISBN 13 : 1292178914
Total Pages : 139 pages
Book Rating : 4.2/5 (921 download)

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Book Synopsis 25 Need-to-Know MBA Models by : Julian Birkinshaw

Download or read book 25 Need-to-Know MBA Models written by Julian Birkinshaw and published by Pearson UK. This book was released on 2017-01-30 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed. 25 Need-to-Know MBA Models provides easy access to the most useful models, tools and concepts that are covered on MBA programmes. Whether you are a student about to embark on an MBA or a manager who wants to understand the ideas taught, this guide will help you to get ahead.

Key MBA Models

Author : Julian Birkinshaw
Publisher : Pearson UK
ISBN 13 : 1292016868
Total Pages : 298 pages
Book Rating : 4.2/5 (92 download)

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Book Synopsis Key MBA Models by : Julian Birkinshaw

Download or read book Key MBA Models written by Julian Birkinshaw and published by Pearson UK. This book was released on 2015-04-17 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Key MBA Models is a one-stop-shop for all business course students and practicing managers. It contains the core management models from each business discipline – from Strategy and Finance to Marketing and Accounting – and distils them into concise summaries of what they are and how to apply them. Written by London Business School Professor Julian Birkinshaw, it covers the essential models that all business students and managers need to know. Themed around the course modules on an MBA, the 60+ models fall into the following categories: Strategy Business Economics Finance Decision Science Accounting Operations Marketing Organisational Behaviour The term ‘model’ is used loosely – in some cases it might be a framework (The 4 Ps of Marketing, Porter’s Five Forces), in some cases it might be an important concept (open innovation or customer orientation), and in some cases it might be a technical model (the Capital Asset Pricing Model). Built on research with academics from the top international business schools, this book is an essential reference guide for every manager and MBA. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

People Risk Management

Author : Keith Blacker
Publisher : Kogan Page Publishers
ISBN 13 : 0749471360
Total Pages : 312 pages
Book Rating : 4.7/5 (494 download)

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Book Synopsis People Risk Management by : Keith Blacker

Download or read book People Risk Management written by Keith Blacker and published by Kogan Page Publishers. This book was released on 2015-04-03 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: People Risk Management provides unique depth to a topic that has garnered intense interest in recent years. Based on the latest thinking in corporate governance, behavioural economics, human resources and operational risk, people risk can be defined as the risk that people do not follow the organization's procedures, practices and/or rules, thus deviating from expected behaviour in a way that could damage the business's performance and reputation. From fraud to bad business decisions, illegal activity to lax corporate governance, people risk - often called conduct risk - presents a growing challenge in today's complex, dispersed business organizations. Framed by corporate events and challenges and including case studies from the LIBOR rate scandal, the BP oil spill, Lehman Brothers, Royal Bank of Scotland and Enron, People Risk Management provides best-practice guidance to managing risks associated with the behaviour of both employees and those outside a company. It offers practical tools, real-world examples, solutions and insights into how to implement an effective people risk management framework within an organization.

Thinking, Fast and Slow

Author : Daniel Kahneman
Publisher : Farrar, Straus and Giroux
ISBN 13 : 1429969350
Total Pages : 511 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Thinking, Fast and Slow by : Daniel Kahneman

Download or read book Thinking, Fast and Slow written by Daniel Kahneman and published by Farrar, Straus and Giroux. This book was released on 2011-10-25 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: *Major New York Times Bestseller *More than 2.6 million copies sold *One of The New York Times Book Review's ten best books of the year *Selected by The Wall Street Journal as one of the best nonfiction books of the year *Presidential Medal of Freedom Recipient *Daniel Kahneman's work with Amos Tversky is the subject of Michael Lewis's best-selling The Undoing Project: A Friendship That Changed Our Minds In his mega bestseller, Thinking, Fast and Slow, Daniel Kahneman, world-famous psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Topping bestseller lists for almost ten years, Thinking, Fast and Slow is a contemporary classic, an essential book that has changed the lives of millions of readers.

Web Analytics

Author : Avinash Kaushik
Publisher : John Wiley & Sons
ISBN 13 : 0470175052
Total Pages : 481 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis Web Analytics by : Avinash Kaushik

Download or read book Web Analytics written by Avinash Kaushik and published by John Wiley & Sons. This book was released on 2007-07-30 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by an in-the-trenches practitioner, this step-by-step guide shows you how to implement a successful Web analytics strategy. Web analytics expert Avinash Kaushik, in his thought-provoking style, debunks leading myths and leads you on a path to gaining actionable insights from your analytics efforts. Discover how to move beyond clickstream analysis, why qualitative data should be your focus, and more insights and techniques that will help you develop a customer-centric mindset without sacrificing your company’s bottom line. Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Noise

Author : Daniel Kahneman
Publisher : Little, Brown
ISBN 13 : 031645138X
Total Pages : 429 pages
Book Rating : 4.3/5 (164 download)

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Book Synopsis Noise by : Daniel Kahneman

Download or read book Noise written by Daniel Kahneman and published by Little, Brown. This book was released on 2021-05-18 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Nobel Prize-winning author of Thinking, Fast and Slow and the coauthor of Nudge, a revolutionary exploration of why people make bad judgments and how to make better ones—"a tour de force” (New York Times). Imagine that two doctors in the same city give different diagnoses to identical patients—or that two judges in the same courthouse give markedly different sentences to people who have committed the same crime. Suppose that different interviewers at the same firm make different decisions about indistinguishable job applicants—or that when a company is handling customer complaints, the resolution depends on who happens to answer the phone. Now imagine that the same doctor, the same judge, the same interviewer, or the same customer service agent makes different decisions depending on whether it is morning or afternoon, or Monday rather than Wednesday. These are examples of noise: variability in judgments that should be identical. In Noise, Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein show the detrimental effects of noise in many fields, including medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection. Wherever there is judgment, there is noise. Yet, most of the time, individuals and organizations alike are unaware of it. They neglect noise. With a few simple remedies, people can reduce both noise and bias, and so make far better decisions. Packed with original ideas, and offering the same kinds of research-based insights that made Thinking, Fast and Slow and Nudge groundbreaking New York Times bestsellers, Noise explains how and why humans are so susceptible to noise in judgment—and what we can do about it.

Business Chemistry

Author : Kim Christfort
Publisher : John Wiley & Sons
ISBN 13 : 1119501563
Total Pages : 311 pages
Book Rating : 4.1/5 (195 download)

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Book Synopsis Business Chemistry by : Kim Christfort

Download or read book Business Chemistry written by Kim Christfort and published by John Wiley & Sons. This book was released on 2018-05-22 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to putting cognitive diversity to work Ever wonder what it is that makes two people click or clash? Or why some groups excel while others fumble? Or how you, as a leader, can make or break team potential? Business Chemistry holds the answers. Based on extensive research and analytics, plus years of proven success in the field, the Business Chemistry framework provides a simple yet powerful way to identify meaningful differences between people’s working styles. Who seeks possibilities and who seeks stability? Who values challenge and who values connection? Business Chemistry will help you grasp where others are coming from, appreciate the value they bring, and determine what they need in order to excel. It offers practical ways to be more effective as an individual and as a leader. Imagine you had a more in-depth understanding of yourself and why you thrive in some work environments and flounder in others. Suppose you had a clearer view on what to do about it so that you could always perform at your best. Imagine you had more insight into what makes people tick and what ticks them off, how some interactions unlock potential while others shut people down. Suppose you could gain people’s trust, influence them, motivate them, and get the very most out of your work relationships. Imagine you knew how to create a work environment where all types of people excel, even if they have conflicting perspectives, preferences and needs. Suppose you could activate the potential benefits of diversity on your teams and in your organizations, improving collaboration to achieve the group’s collective potential. Business Chemistry offers all of this--you don’t have to leave it up to chance, and you shouldn’t. Let this book guide you in creating great chemistry!

Bending the Law of Unintended Consequences

Author : Richard M. Adler
Publisher : Springer Nature
ISBN 13 : 3030327140
Total Pages : 310 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Bending the Law of Unintended Consequences by : Richard M. Adler

Download or read book Bending the Law of Unintended Consequences written by Richard M. Adler and published by Springer Nature. This book was released on 2020-02-10 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides managers, executives and other professionals with an innovative method for critical decision-making. The book explains the reasons for decision failures using the Law of Unintended Consequences. This account draws on the work of sociologist Robert K. Merton, psychologists Amos Tversky and Daniel Kahneman, and economist Herbert Simon to identify two primary causes⁠: cognitive biases and bounded rationality. It introduces an innovative method for “test driving” decisions that addresses both causes by combining scenario planning and “what-if” simulations. This method enables professionals to learn safely from virtual mistakes rather than real ones. It also provides four sample test drives of realistic critical decisions as well as two instructional videos to illustrate this new method. This book provides leaders and their support teams with important new tools for analyzing and refining complex decisions that are critical to organizational well-being and survival.

Self-Insight

Author : David Dunning
Publisher : Psychology Press
ISBN 13 : 1135432759
Total Pages : 243 pages
Book Rating : 4.1/5 (354 download)

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Book Synopsis Self-Insight by : David Dunning

Download or read book Self-Insight written by David Dunning and published by Psychology Press. This book was released on 2012-10-12 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: People base thousands of choices across a lifetime on the views they hold of their skill and moral character, yet a growing body of research in psychology shows that such self-views are often misguided or misinformed. Anyone who has dealt with others in the classroom, in the workplace, in the medical office, or on the therapist’s couch has probably experienced people whose opinions of themselves depart from the objectively possible. This book outlines some of the common errors that people make when they evaluate themselves. It also describes the many psychological barriers - some that people build by their own hand - that prevent individuals from achieving self-insight about their ability and character. The first section of the book focuses on mistaken views of competence, and explores why people often remain blissfully unaware of their incompetence and personality flaws. The second section focuses on faulty views of character, and explores why people tend to perceive they are more unique and special than they really are, why people tend to possess inflated opinions of their moral fiber that are not matched by their deeds, and why people fail to anticipate the impact that emotions have on their choices and actions. The book will be of great interest to students and researchers in social, personality, and cognitive psychology, but, through the accessibility of its writing style, it will also appeal to those outside of academic psychology with an interest in the psychological processes that lead to our self-insight.

The Great Mental Models, Volume 1

Author : Shane Parrish
Publisher : Penguin
ISBN 13 : 0593719972
Total Pages : 209 pages
Book Rating : 4.5/5 (937 download)

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Book Synopsis The Great Mental Models, Volume 1 by : Shane Parrish

Download or read book The Great Mental Models, Volume 1 written by Shane Parrish and published by Penguin. This book was released on 2024-10-15 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the essential thinking tools you’ve been missing with The Great Mental Models series by Shane Parrish, New York Times bestselling author and the mind behind the acclaimed Farnam Street blog and “The Knowledge Project” podcast. This first book in the series is your guide to learning the crucial thinking tools nobody ever taught you. Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields. Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back. The Great Mental Models: Volume 1, General Thinking Concepts shows you how making a few tiny changes in the way you think can deliver big results. Drawing on examples from history, business, art, and science, this book details nine of the most versatile, all-purpose mental models you can use right away to improve your decision making and productivity. This book will teach you how to: Avoid blind spots when looking at problems. Find non-obvious solutions. Anticipate and achieve desired outcomes. Play to your strengths, avoid your weaknesses, … and more. The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage.

14th International Conference on Theory and Application of Fuzzy Systems and Soft Computing – ICAFS-2020

Author : Rafik A. Aliev
Publisher : Springer Nature
ISBN 13 : 3030640582
Total Pages : 850 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis 14th International Conference on Theory and Application of Fuzzy Systems and Soft Computing – ICAFS-2020 by : Rafik A. Aliev

Download or read book 14th International Conference on Theory and Application of Fuzzy Systems and Soft Computing – ICAFS-2020 written by Rafik A. Aliev and published by Springer Nature. This book was released on 2021-01-04 with total page 850 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of the 14th International Conference on Applications of Fuzzy Systems, Soft Computing, and Artificial Intelligence Tools, ICAFS-2020, held in Budva, Montenegro, on August 27–28, 2020. It includes contributions from diverse areas of fuzzy systems, soft computing, AI tools such as uncertain computation, decision making under imperfect information, deep learning and others. The topics of the papers include theory and application of soft computing, neuro-fuzzy technology, intelligent control, deep learning–machine learning, fuzzy logic in data analytics, evolutionary computing, fuzzy logic and artificial intelligence in engineering, social sciences, business, economics, material sciences and others.

The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set

Author : Gideon Keren
Publisher : John Wiley & Sons
ISBN 13 : 1118468392
Total Pages : 1056 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set by : Gideon Keren

Download or read book The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set written by Gideon Keren and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes

The Irrational Mind

Author : Spencer J. Fraseur
Publisher : Spencer Fraseur
ISBN 13 : 1735275700
Total Pages : 299 pages
Book Rating : 4.7/5 (352 download)

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Book Synopsis The Irrational Mind by : Spencer J. Fraseur

Download or read book The Irrational Mind written by Spencer J. Fraseur and published by Spencer Fraseur. This book was released on 2020-10-12 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Having an understanding of the human mind and how it functions is probably the single most important thing anyone who wants to be successful can do." We make thousands of decisions every day. In fact, research suggests that an adult brain makes on average about 35,000 remotely conscious decisions on a daily basis. When we were younger, choices were most likely simple. As we get older, our level of responsibility increases and so does the amount of choices that we are faced with on a daily basis. With ever increasing choices and responsibility at least our decision making process stays the same, right? In actuality, our decision making process is broken. It's warped and sometimes even shattered by cognitive bias. Why are we so afraid of sharks or plane crashes yet continue to do far more dangerous things? Why do we instinctively look for patterns to inform our decision making and bring meaning to our world? Why can't we listen to reason when we need it most? Join Spencer Fraseur through a journey of real stories of flawed logic and bad behavior in business (and in life) to discover what can be done to overcome the hidden forces that impact our everyday decisions.

The Future of the MBA

Author : Mihnea C. Moldoveanu
Publisher : Oxford University Press
ISBN 13 : 0199887659
Total Pages : 234 pages
Book Rating : 4.1/5 (998 download)

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Book Synopsis The Future of the MBA by : Mihnea C. Moldoveanu

Download or read book The Future of the MBA written by Mihnea C. Moldoveanu and published by Oxford University Press. This book was released on 2008-04-25 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: The MBA is probably the hottest ticket among the current university graduate degree offerings--every year, more than 120,000 students enroll in MBA programs in the United States, and the estimates in Europe do not lag far behind. In addition, job prospects have never looked better for business school graduates; corporations are hiring more business school graduates every year, and compensating them more handsomely. The Future of the MBA provides a sorely needed detailed and systematic review of the major contemporary debates on management education. At the same time, it makes a striking new proposal that will certainly have an impact in business schools: that managers need to develop a series of qualitative tacit skills which could be appropriately developed by integrative curricula brought from different disciplines, including sociology, philosophy, and other social sciences. Moldoveanu and Martin, both involved in the greatly respected integrative business education program at the Rotheman School of Management, provide a guide on how to design a reliable integrated program for management students. One of the main assets of the book is that it relies not just on speculative thinking, but on real life experience, and that it also includes case studies that will appeal to practicing managers. As an authoritative reference on MBA education, it will appeal to faculty and staff of business schools, as well as students in related fields like education and public policy.

Advances in Accounting Behavioral Research

Author : Khondkar E. Karim
Publisher : Emerald Group Publishing
ISBN 13 : 1787565459
Total Pages : 160 pages
Book Rating : 4.7/5 (875 download)

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Book Synopsis Advances in Accounting Behavioral Research by : Khondkar E. Karim

Download or read book Advances in Accounting Behavioral Research written by Khondkar E. Karim and published by Emerald Group Publishing. This book was released on 2018-11-21 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on research that examines individual and organizational behavior relative to accounting, this series promotes research across all areas of behavioral accounting, and encourages the development, discussion and expansion of theories from psychology, sociology and related disciplines to better understand accounting domains.

Environmental Modeling Using Satellite Imaging and Dataset Re-processing

Author : Moses Eterigho Emetere
Publisher : Springer
ISBN 13 : 3030134059
Total Pages : 236 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis Environmental Modeling Using Satellite Imaging and Dataset Re-processing by : Moses Eterigho Emetere

Download or read book Environmental Modeling Using Satellite Imaging and Dataset Re-processing written by Moses Eterigho Emetere and published by Springer. This book was released on 2019-02-21 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces methods of re-processing images to extract numerical information that can be used to quantify the observables in environmental modelling. Experiments or procedures that yield large images can be statistically or parametrically examined. Through the use of open source libraries, the book shows how ‘big data’ in the form of images or datasets can be comparatively analysed along same defined procedures or standards. This book helps to solve the challenges of discarding datasets that are relevant directly or indirectly to the research. The habit of screening datasets leads to the discard of over 90% of the original dataset or images generated in the experiments or procedure. If the images or datasets are generated under the same principles or conditions, then each measurement may be the narrative of unique events. The focus of this book is to enlighten researchers on how to analyse measurements with the aim of ensuring 100% utilization.