Every Single Cognitive Bias in One Infographic
View the high resolution version of today’s graphic by clicking here.
The human brain is capable of incredible things, but it’s also extremely flawed at times.
Science has shown that we tend to make all sorts of mental mistakes, called “cognitive biases”, that can affect both our thinking and actions. These biases can lead to us extrapolating information from the wrong sources, seeking to confirm existing beliefs, or failing to remember events the way they actually happened!
To be sure, this is all part of being human – but such cognitive biases can also have a profound effect on our endeavors, investments, and life in general. For this reason, today’s infographic from DesignHacks.co is particularly handy. It shows and groups each of the 188 known confirmation biases in existence.
What is a Cognitive Bias?
Humans tend to think in certain ways that can lead to systematic deviations from making rational judgments.
These tendencies usually arise from:
- Information processing shortcuts
- The limited processing ability of the brain
- Emotional and moral motivations
- Distortions in storing and retrieving memories
- Social influence
Cognitive biases have been studied for decades by academics in the fields of cognitive science, social psychology, and behavioral economics, but they are especially relevant in today’s information-packed world. They influence the way we think and act, and such irrational mental shortcuts can lead to all kinds of problems in entrepreneurship, investing, or management.
Cognitive Bias Examples
Here are four examples of how these types of biases can affect people in the business world:
Familiarity Bias: An investor puts her money in “what she knows”, rather than seeking the obvious benefits from portfolio diversification. Just because a certain type of industry or security is familiar doesn’t make it the logical selection.
Self-Attribution Bias: An entrepreneur overly attributes his company’s success to himself, rather than other factors (team, luck, industry trends). When things go bad, he blames these external factors for derailing his progress.
Anchoring Bias: An employee in a salary negotiation is too dependent on the first number mentioned in the negotiations, rather than rationally examining a range of options.
Survivorship Bias: Entrepreneurship looks easy, because there are so many successful entrepreneurs out there. However, this is a cognitive bias: the successful entrepreneurs are the ones still around, while the millions who failed went and did other things.
This Giant List of 100+ Marketing Stats Reveals What Actually Works
This massive infographic uses 100+ marketing stats to highlight the tactics that are working in modern-day digital universe.
In just the last decade, the marketing world has been dramatically transformed.
Spending on digital media surpassed television ads in 2017, and now global digital spend is anticipated to top $333 billion this year.
As a result, today’s entrepreneurs and small businesses are starting to think about marketing in almost exclusively digital terms – and to have a successful online strategy, it’s important to see the data on what tactics are actually working.
Visualizing 100+ Marketing Stats
Today’s infographic comes to us from Serpwatch and it highlights seven of the most important digital marketing trends to keep an eye on this year.
Along the way, it highlights over 100 useful marketing stats that help to reveal the strategies and tactics that maximize ROI in the online arena.
It’s well known that digital media tactics – such as using social media, SEO, search, email, and content marketing – all offer unprecedented levels of analytics, customization, and segmentation for the modern marketer.
However, with so much to think about when using these techniques online and at scale, they can also be quite overwhelming.
Luckily, the above list provides some marketing stats that stand out in potentially helping businesses make the most out of their digital campaigns.
Stats That Stand Out
Here are some of the marketing stats from the above list that we thought stood out the most, for each category:
The top five search results for a keyword on Google get 70% of the clicks.
- Social media:
80% of B2B leads come in through LinkedIn vs. 13% on Twitter and 7% on Facebook.
- Video marketing:
Video will represent 82% of all internet traffic by 2021.
- Cold email marketing:
Emails sent between 10-11am have the highest open rates. Tuesday is the best day to send cold emails.
- Paid advertising:
The mobile ad blocking rate has increased 90% year-over-year.
- Lead generation:
61% of marketers say generating traffic and leads is their top challenge.
- Content marketing:
47% of buyers viewed 3-5 pieces of content before engaging with a sales rep.
Although the digital marketing space is vast, the useful statistics above may help create some clarity for marketers trying to get the most out of their efforts in 2019 and beyond.
Visualizing the Happiest Country on Every Continent
Where are the happiest, least happy, and fastest improving countries worldwide? We’ve broken down this annual ranking by region to answer that question.
Visualizing the Happiest Country on Every Continent
The state of our world is shifting beneath our feet — economics alone no longer equate to satisfaction, let alone happiness.
Today’s visualization pulls data from the seventh World Happiness Report 2019, which ranks 156 countries by their happiness levels. We’ve previously shown the variables used to measure happiness in this report, but here, we break down rankings by continent and region for a clearer picture of where each country lies.
Unhappy Americans have caused the country to tumble in rankings for a third straight year, despite evidence that things are generally looking up. The report attributes much of this erosion to a variety of addictions: opioids, workaholism, gambling, internet, exercise, and even shopping are among them.
Haiti is the least happy country in this region. The country is still struggling to rebuild sanitation infrastructure and other educational and healthcare programs, despite foreign aid.
In brighter news, Nicaragua is seeing great gains in happiness levels, as the country makes a concentrated effort to reduce poverty.
In South America, the majority of countries cluster around a score of six on the happiness scale.
The one notable exception to this is Venezuela, which is faltering in both happiness rank and regional improvement. The nation’s hyperinflation and humanitarian crisis both show no signs of slowing down.
Finland comes out on top of the world for a second consecutive year, and it’s not difficult to see why. The country boasts a stable work-life balance, bolstered by a comprehensive welfare state.
Scandinavian countries appear among the happiest nations for similar very reasons — elevating the region’s score to 16% above the global average.
On the flip side, Ukraine is the unhappiest, likely intensified by the ongoing war in southeastern Donbass. Greece is the least improved, as it continues to heal from the sovereign debt crisis.
Middle East and Central Asia
Uzbekistan shows the swiftest regional improvement, as the country has launched an ambitious reform agenda for greater economic, social, and political development and openness.
Unfortunately, Syria’s continued civil war comes with a heavy price for its people and economy, as does the Palestinian-Israeli conflict — although the latter doesn’t seem to impact Israel’s happiness ranking. In fact, Israel finished with the 13th best score, globally.
Rest of Asia and Oceania
In East Asia, the average happiness score is quite close to the global average, with Taiwan standing out as the happiest country.
Singapore out-competes other countries within Southeast Asia, despite only being home to a population of 5.6 million. Its neighbor Malaysia, however, plunged from 35th to 80th place.
Oceania stands alone – Australia and New Zealand are closely matched in their individual happiness scores.
The African continent as a whole fares 19.2% below the global average. But there are silver linings, with strong strides towards improvement being made.
Mauritius benefits from good governance and a buoyant tourism sector — with visitor arrivals equal to the island’s 1.3 million population. Meanwhile, Benin has soared in the rankings, and is supported by the World Bank in key structural reforms such as poverty reduction and access to basic services.
What could these rankings look like in another ten years?
Notes: The Africa map was updated to show more country scores. The report only covers 156 countries, so “Oceania” only refers to Australia and New Zealand in this instance.
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