Learning Curve
A learning curve is a mathematical concept that graphically depicts how a process is improved over time due to learning and increased proficiency. The learning curve theory is that tasks will require less time and resources the more they are performed because of proficiencies gained as the process is learned. The learning curve was first described by psychologist Hermann Ebbinghaus in 1885 and is used as a way to measure production efficiency and to forecast costs.A learning curve is typically described with a percentage that identifies the rate of improvement. In the visual representation of a learning curve, a steeper slope indicates initial learning that translates into higher cost savings, and subsequent learnings result in increasingly slower, more difficult cost savings.