The Air Force Cost Analysis Agency (AFCAA) offers multiple examples of data visualization tools being actively used for cost analysis, including the Air Force Total Ownership Cost (AFTOC) program ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Cost-efficiency analysis estimates the ratio of program costs to outputs created, allowing you to compare cost-per-output for programs which all produced the same output. Such analysis is useful when ...

Jennifer Simonson is a business journalist with a decade of experience covering entrepreneurship and small business. Drawing on her background as a founder of multiple startups, she writes for Forbes ...

Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.