article thumbnail

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

Smarten

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. The closer this value is to 0, the weaker the relationship/association is between both variables. Use Case – 1.

article thumbnail

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

Smarten

To better understand multiple linear regression, let’s look at one such analysis of independent variables: Temperature and Humidity, and a target variable (yield). How Can Multiple Linear Regression Be Helpful for Business Analysis? Use Case – 1.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is the Paired Sample T Test and How is it Beneficial to Business Analysis?

Smarten

How is the Paired Sample T Test Beneficial to Business Analysis? This type of analysis can be useful in numerous situations. Let’s look at two use cases to better understand the benefit of this technique in business analysis. Therefore, the treatment was not effective. Use Case – 1.

article thumbnail

What is Frequent Pattern Mining (Association) and How Does it Support Business Analysis?

Smarten

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

article thumbnail

Gartner Predicts Growth of Augmented Analytics!

Smarten

It enables data sharing and allows the organization to produce fast, dependable insights and improve the value of business analysis across the enterprise, democratizing the use of Advanced Analytics and augmented predictive tools among business users.

article thumbnail

Elegant MicroWeb (Smarten SSDP Solution) Named as a Representative Vendors in Gartner April 2019 ‘Market Guide for Data Preparation Tools’

Smarten

We believe that our focus on self-serve data preparation and our product roadmap assures the continued evolution and advancement of data democratization, and business user data literacy.

article thumbnail

The Advantages of Augmented Analytics!

Smarten

Assisted predictive modeling suggests techniques to analyze data that will result in the right outcome for the goals of the analysis. Self-serve data preparation walks the user through the data preparation process so that they can easily prepare data for analysis without the assistance of IT or a data scientist.