factor-in

Vocabulary Word

Definition

To 'factor-in' is to consider or include a specific aspect or element while making decisions or devising a plan. It indicates acknowledging the effect or impact of that element on the overall outcome.

Examples in Different Contexts

In technology development, 'factor in' often means including user feedback. A product manager might state, 'User experience feedback is factored into our design process.'

Practice Scenarios

Business

Scenario:

With the recent trends shifting towards online retail, we need to realign our marketing strategy accordingly.

Response:

We certainly need to factor in the growth of online retail when devising our business strategy.

Sustainability

Scenario:

The company's new objective is to balance growth while minimizing environmental impact. Can we revise the sustainability plan?

Response:

Upgrading our plan with the goal of balancing growth and environmental impact in mind is crucial. Let's factor in emerging sustainability trends too.