This glossary covers common terms used in consulting case interviews, recruiting, and case-preparation materials.
Core Case Interview Terms
Case interview: A business problem-solving interview used to assess analytical thinking, judgment, communication, and quantitative ability.
Candidate-led case: A format in which the candidate largely determines the analytical path and requests information as needed.
Interviewer-led case: A format in which the interviewer guides the candidate through specific questions and analyses.
Case prompt: The opening description of the client, business situation, and problem to solve.
Objective: The specific question or decision the client needs answered.
Clarifying question: A focused question used to confirm objectives, scope, definitions, or constraints before structuring the case.
Structuring and Problem Solving
Framework: A reusable analytical lens that can help organize thinking but should be adapted to the specific case.
Issue tree: A structured breakdown of a problem into smaller questions or analytical branches.
Driver tree: A structure showing the variables that mathematically or logically drive an outcome.
MECE: Mutually exclusive, collectively exhaustive; a principle for creating categories without unnecessary overlap or major gaps.
Hypothesis: A preliminary explanation or answer that can be tested and updated as evidence emerges.
Prioritization: Focusing first on the issues most likely to affect the client’s objective.
80/20 principle: The idea that a small number of factors often explain most of the outcome.
Analysis and Quantitative Terms
Market sizing: Estimating the size of a market using logical assumptions and calculations.
Top-down approach: Starting with a broad population or market and narrowing it through segmentation.
Bottom-up approach: Building an estimate from units, customers, transactions, locations, or other operational drivers.
Contribution margin: Revenue per unit minus variable cost per unit.
Breakeven point: The level of sales at which revenue equals total costs.
Utilization: Actual output or usage divided by available capacity.
Run rate: An estimate of annual performance based on current operating results.
Communication and Evaluation
Synthesis: Combining findings into a concise conclusion that explains what matters and why.
Insight: A finding interpreted in terms of its business implication.
Recommendation: The final answer supported by evidence, risks, and next steps.
Signposting: Clearly telling the interviewer how your answer or analysis is organized.
Coachability: The ability to recognize interviewer guidance and adapt your approach appropriately.
Executive presence: Communicating with clarity, confidence, judgment, and professionalism.
Final principle: Learn these terms well enough to understand case discussions and feedback, but focus on applying the underlying concepts rather than memorizing vocabulary.
