What Is Naïve Bayes Classification and How Is It Used for Enterprise Analysis?

Click to learn more about author Kartik Patel. What Is Naïve Bayes Classification? Naive Bayes is a classification algorithm that is suitable for binary and multiclass classification. It is a supervised classification technique used to classify future objects by assigning class labels to instances/records using conditional probability. In supervised classification, training data is already labeled with […]

What Is Spearman’s Rank Correlation and How Is It Useful for Business Analysis?

Click to learn more about author Kartik Patel. This article describes the Spearman’s Rank Correlation and how it is used for enterprise analysis. What Is Spearman’s Rank Correlation? 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 […]

What Is Assisted Predictive Modeling?

Click to learn more about author Kartik Patel. Assisted predictive modeling incorporates complex, sophisticated analytical and forecasting techniques in a self-serve environment where business users can employ tools to guide them through recommended techniques and report formats and ensure that the methods and reports they choose are appropriate to the type of data and information they […]

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