What is Spearman’s Rank Correlation and How is it Useful for Business Analysis?
This article describes the Spearman’s Rank Correlation and how it is used for enterprise analysis. What is Spearman’s Rank Correlation? Correlation is a statistical measure that indicates the extent to which two variables fluctuate together A positive correlation indicates the … Continued
What is Binary Logistic Regression Classification and How is it Used in Analysis?
In this article, we will discuss the Binary Logistic Regression Classification method of analysis, and how it can be used in business. What is Binary Logistic Regression Classification? Logistic regression measures the relationship between the categorical target variable and one … Continued
What is the Paired Sample T Test and How is it Beneficial to Business Analysis?
This article discusses the Paired Sample T Test method of hypothesis testing and analysis. What is the Paired Sample T Test? The Paired Sample T Test is used to determine whether the mean of a dependent variable e.g., weight, anxiety … Continued
What is Simple Linear Regression and How Can an Enterprise Use this Technique to Analyze Data?
This article describes the Simple Linear Regression method of analysis. What is Simple Linear Regression? Simple Linear Regression is a statistical technique that attempts to explore the relationship between one independent variable (X) and one dependent variable (Y). This method … Continued
What is ARIMAX Forecasting and How is it Used for Enterprise Analysis?
This article looks at the ARIMAX Forecasting method of analysis and how it can be used for business analysis. What is ARIMAX Forecasting? An Autoregressive Integrated Moving Average with Explanatory Variable (ARIMAX) model can be viewed as a multiple regression … Continued
What is Karl Pearson Correlation Analysis and How Can it be Used for Enterprise Analysis Needs?
This article explains the Karl Pearson Correlation method of analysis, and how it can be applied in business. What is the Karl Pearson Correlation Analytical Technique? Correlation is a statistical measure that indicates the extent to which two variables fluctuate … Continued
What is Hierarchical Clustering and How Can an Organization Use it to Analyze Data?
This article discusses the analytical method of Hierarchical Clustering and how it can be used within an organization for analytical purposes. What is Hierarchical Clustering? Hierarchical Clustering is a process by which objects are classified into a number of groups … Continued
What is SVM Classification Analysis and How Can It Benefit Business Analytics?
This article provides a brief explanation of the SVM Classification method of analytics. What is SVM Classification Analysis? SVM Classifications are based on the idea of finding a hyper plane that best divides a dataset into predefined classes, as shown … Continued
What is Outlier Analysis and How Can It Improve Analysis?
This article presents a brief explanation of Outliers, and how this type of analysis is used. What is Outlier Analysis? An outlier is an element of a data set that distinctly stands out from the rest of the data. In … Continued
What is the Decision Tree Analysis and How Does it Help a Business to Analyze Data?
In this article, we will discuss the Decision Tree analysis method. What is Decision Tree Analysis? There are two basic types of decision tree analysis: Classification and Regression. 1) Classification Trees are used when the target variable is categorical and, as … Continued