Which term refers to shortcuts or rules of thumb used in decision-making?

Heuristics are cognitive shortcuts or rules of thumb that help individuals make decisions and solve problems more efficiently. They simplify complex decision-making processes by focusing on one aspect of a situation, allowing for faster judgment without extensive data analysis. For instance, when faced with a decision, a person might rely on their past experiences or generalizations to quickly arrive at a conclusion.

In contrast, algorithms are systematic, step-by-step methods that guarantee a solution but can be time-consuming. Analyses refer to detailed examinations or evaluations often used to derive conclusions from complex data. Strategies are broader plans of action designed to achieve specific goals and may involve multiple methods, including the use of heuristics. Thus, heuristics stand out as a unique concept that specifically focuses on efficient and often quicker decision-making paths.