Wild card

An unexpected event that would have enormous consequences if it actually occurred. An unpredictable event or situation. Events that have a low probability but a high impact. Often recognized and known, but discounted, even when the event is relatively certain over a period of years. The term often refers to a future event that is unlikely to occur during the period of time being considered but would have great consequences if it did. The term of wild card was originally used in deck games, but now this term has evolved as described by the Merriam-Webster Dictionary by referring to it as “an unknown or unpredictable factor” in any number of areas. “The wild cards” refer to a low probability, the high impact of the events. This concept can be used for the anticipated decision taking process in order to increase the ability of the organizations for adapting to the surprises that may arise to the environment of difficult and chaotic business. All sudden and unique incidents can become in important and decisive turns in the evolution of a certain tendency or system. The wild cards can or not be announced by weak signals, which is incomplete and with fragmented facts from the ones the prospective information can be inferred.