article thumbnail

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

Smarten

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.

article thumbnail

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

Smarten

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. Use Case – 2.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

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

Smarten

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.

article thumbnail

Your Data Won’t Speak Unless You Ask It The Right Data Analysis Questions

datapine

If you want to survive, it’s time to act.” – Capgemini and EMC² in their study Big & Fast Data: The Rise of Insight-Driven Business. Or even better: “Which marketing campaign that I did this quarter got the best ROI, and how can I replicate its success?”. There are basically 4 types of scales: *Statistics Level Measurement Table*.

IT 317
article thumbnail

Top 6 Data Analytics Tools in 2019

FineReport

And I am trying to talk objectively with you about my personal views on data analysis tools on the market, for your reference. Now let’s compare the three popular BI tools on the market: Power BI, FineReport, and Tableau. It entered the BI market earlier and carried forward this core value. What is the discrete situation?

article thumbnail

Business Report: Definition, Types, Samples, and How to Create it?

FineReport

How can I write a professional business report? Definition of Business Report. A business report is a formal document that objectively provides statistical data, summarizes historical facts, and sometimes offers reasonable recommendations for a company’s managers. Regional Business Analysis.

article thumbnail

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

Smarten

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?

Testing 40