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 helps a business to identify […]
Tag: Training for Citizen Data Scientist
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 together. A positive correlation indicates […]
Credit Card Delinquency, Data Literacy, Karl Pearson Correlation, Training for Citizen Data Scientist 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 in the image below. The […]
Credit Loan Approval, Data Literacy, Fraud Analysis, Medical Diagnosis, SVM Classification, Training for Citizen Data Scientist 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 the name implies, are […]
Classification Trees, Customer Segments, Data Literacy, Decision Tree Analysis, Online Shopping, Regression Trees, Training for Citizen Data Scientist This article provides a brief explanation of the ARIMA method of analytical forecasting. What is ARIMA Forecasting? Autoregressive Integrated Moving Average (ARIMA) predicts future values of a time series using a linear combination of its past values and a series of errors. This analytical forecasting […]
ARIMA Forecasting, Data Literacy, Pharmaceutical Sales Forecast, Training for Citizen Data Scientist This article provides a brief explanation of the KMeans Clustering algorithm. What is the KMeans Clustering algorithm? The KMeans Clustering algorithm is a process by which objects are classified into number of groups so that they are as much dissimilar as possible from one group […]
Customer Retention, Data Literacy, Discount Analysis, KMeans Clustering, Marketing, Training for Citizen Data Scientist This article provides a brief explanation of the definition and uses of the Descriptive Statistics algorithms. What is a Descriptive Statistics? Descriptive statistics helps users to describe and understand the features of a specific dataset, by providing short summaries and a graphic depiction of the […]
Bank Loan, Data Literacy, Descriptive Statistics, Mean, Median, Mode, Percentile, Product Popularity, Quality Control, Quartile, Training for Citizen Data Scientist 