Kahneman, author of “Thinking Fast and Slow” has a new book coming out called “Noise” according to this post: Erik Brynjolfsson interviews Daniel Kahneman.

Meanwhile; here’s an article in HBR about the subject.

From the book:

We call the chance variability of judgments noise.

The article at HBR talks about using algorithms to reduce noise.

A definition from the internet:

An algorithm is a set of steps (the instructions) each of which is simple and well defined, and that stops after a finite number of these steps.

If we wanted a less intimidating definition of an algorithm, we turn to the kitchen:

An algorithm is like a recipe. It takes “inputs” (the ingredients), performs a set of simple and (hopefully) well-defined steps, and then terminates after producing an “output” (the meal)