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What is Karl Pearson Correlation Analysis and How Can it be Used for Enterprise Analysis Needs?

Elegant BI

The Smarten approach to business intelligence and business analytics focuses on the business user and provides Advanced Data Discovery so users can perform early prototyping and test hypotheses without the skills of a data scientist. About Smarten.

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What is the Chi Square Test of Association and How Can it be Used for Analysis?

Elegant BI

This technique is helpful in finding a relationship between any demographic characteristic of consumers or research respondents for education, location, gender etc. All of these tools are designed for business users with average skills and require no special skills or knowledge of statistical analysis or support from IT or data scientists.

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What Are Simple Random Sampling and Stratified Random Sampling Analytical Techniques?

Elegant BI

Some of the most common strata used in stratified random sampling include age, gender, religion, race, educational attainment, socioeconomic status, and nationality. For instance Age group, Gender, Occupation, Income, Education, Religion, Region etc. Cons: Need to define the categorical variable by which sub groups should be created.

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What is Spearman’s Rank Correlation and How is it Useful for Business Analysis?

Elegant BI

How is Spearman’s Rank Correlation Useful for Business Analysis? Business Problem: An educational organization wants to assess students’ rating, based on two different sources of observation. Let’s look at two use cases to see the application and benefit of the Spearman’s Rank Correlation. Use Case – 1.

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What is the Multinomial-Logistic Regression Classification Algorithm and How Does One Use it for Analysis?

Elegant BI

Business Benefit: By having knowledge of the probable election outcome, the organization can develop a proper strategy to address the discrepancies between expectations and predictions and identify the segments with a high likelihood of voting oppositions to effectively target voters and achieve more votes in favor of a particular candidate.

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What is Simple Linear Regression and How Can an Enterprise Use this Technique to Analyze Data?

Elegant BI

The Smarten approach to business intelligence and business analytics focuses on the business user and provides Advanced Data Discovery so users can perform early prototyping and test hypotheses without the skills of a data scientist. About Smarten.

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What is Multiple Linear Regression and How Can it be Helpful for Business Analysis?

Elegant BI

The Smarten approach to business intelligence and business analytics focuses on the business user and provides Advanced Data Discovery so users can perform early prototyping and test hypotheses without the skills of a data scientist. About Smarten.