noun
materiality
muh-teer-ee-AL-uh-tee/mʌtˌɪriˈælɪti/
Importance or relevance to a decision or issue.
The broken joint's materiality outweighs the attractive upholstery when judging the chair's safety.

Etymology
Matter can mean not only physical substance but also a subject under consideration. Materiality connects with that second meaning: it is the quality of being important to the matter at hand, not necessarily of being physical.
In context
the concept of materiality just is how large a number needs to be to impact your decision.
More examples
- Auditors assess the materiality of errors in the financial statements.
- The committee questions the materiality of the change to its decision.
- The insurer disputes the materiality of the omitted information.
Forms
materiality
material adjective — Important or relevant to an issue.
Similar words
- relevance
- Emphasizes connection to an issue rather than its importance.
- importance
- Expresses general significance without requiring relevance to a particular decision.