Business Analysis Predictive Modeling Statistics 
Smarten
JUNE 29, 2018
At 95% confidence level (5% chance of error): As p-value = 0.041 which is less than 0.05, there is a statistically significant difference between means of pre and post sample values. How is the Paired Sample T Test Beneficial to Business Analysis? This type of analysis can be useful in numerous situations.
Smarten
JUNE 29, 2018
What is Multiple Linear Regression Analysis? Multiple Linear Regression is a statistical technique that is designed to explore the relationship between two or more variables (X, and Y). How Can Multiple Linear Regression Be Helpful for Business Analysis? Use Case – 1.
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Smarten
JUNE 29, 2018
This article describes the Spearman’s Rank Correlation and how it is used for enterprise analysis. Correlation is a statistical measure that indicates the extent to which two variables fluctuate together A positive correlation indicates the extent to which those variables increase or decrease in parallel. Use Case – 1.
Smarten
JUNE 29, 2018
How Does Frequent Pattern Mining Support Business Analysis? This method of analysis can be useful in evaluating data for various business functions and industries. Basket Data Analysis – To analyze the association of purchased items in a single basket or single purchase. Confidence (milk->bread) = 0.5
Smarten
JUNE 26, 2018
It is used to determine whether there is a statistically significant association between the two categorical variables. This technique is used to determine if the relationship exists between any two business parameters that are of categorical data type. How Can the Chi Square Test of Association Be Used for Business Analysis?
Smarten
JULY 10, 2018
Use Case(s): Weather Forecasting, Fraud Analysis and more. Frequent Pattern Mining (Association): What is Frequent Pattern Mining (Association) and How Does it Support Business Analysis? Use Case(s): Market Basket Analysis, Frequently Bundled Products and more. Use Case(s): Average value of all cars in U.S.
Smarten
JUNE 29, 2018
This article looks at the ARIMAX Forecasting method of analysis and how it can be used for business analysis. An Autoregressive Integrated Moving Average with Explanatory Variable (ARIMAX) model can be viewed as a multiple regression model with one or more autoregressive (AR) terms and/or one or more moving average (MA) terms.
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