Variind
Variind, short for Variability Indicator, is a dispersion statistic designed to measure how much a group of indicators varies after normalizing their scales. It is used for multivariate data where indicators have different units and ranges, making direct comparison difficult.
Definition and calculation: To compute Variind for a given observation, first normalize each indicator to the
Interpretation: A Variind near 0 indicates that the indicators agree closely for that observation, while a
Applications: Variind is used in multi-criteria decision analysis, dashboard reporting, and feature selection to summarize heterogeneity
Limitations: The result depends on the chosen normalization method and can be sensitive to outliers. It is
See also: Coefficient of variation, normalization, dispersion measures, multi-criteria decision analysis.