Definitions
In plain terms
It may be an error, a rare genuine event, or evidence that the chosen model is inappropriate; detection alone cannot decide which.
Technical
Outlier status depends on population, feature, window, robust statistic or model, threshold, causal direction, and boundary policy.
Scope
An outlier flag is not proof of bad data and should preserve the original observation.
Examples
- A governed dataset records outlier explicitly and preserves the source context needed to interpret it.
Common misconceptions
- Outlier does not have one universal meaning or policy without its declared source, scope, and data contract.
Concept relationships
Where this concept is used
Evidence and governance
- Fintech Builder Glossary Definition Contract The Fintech Builder · internal governed contract
Supports: preferred label, short definition, technical definition
Limits: Defines governed platform behavior rather than claiming these policies are universally prescribed by external McClellan methodology.
- Reviewed by
- fintech-builder-owner-approved
- Last reviewed
- 2026-07-26
- Next review
- 2027-07-26
- Record status
- published