This article provides a brief explanation of the SVM classification method of analytics. What Is SVM Classification Analysis? SVM classification is based on the idea of finding a hyperplane that best divides a dataset into predefined classes. The goal is to choose a hyperplane with the greatest possible margin between the hyperplane and any point […]
What Is the Karl Pearson Correlation and How Is It Useful for Enterprise Analysis?
Click to learn more about Kartik Patel. This article explains the Karl Pearson Correlation method of analysis, and how it can be applied in business. 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. A […]
Self-Serve Advanced Analytics Offers a Collaborative, Empowered Environment
Click to learn more about author Kartik Patel. The use of business intelligence and business analytics is growing in every industry and business function and in companies of every size. In fact, 48% of small and medium-sized enterprise (SME) CIOs responding to a Gartner survey revealed that business intelligence (BI), data, and analytics is one […]
Four Things About Digital Transformation That Will Affect Business Team Members
Click to learn more about author Kartik Patel. If your business is trying to decide whether to launch a digital transformation initiative, you may be wondering how this effort will affect your team members. Will your team perceive this effort as adding work to their already heavy workload, or resent having to learn new systems […]
What Is Binary Logistic Regression and How Is It Used in Analysis?
In this article, we will discuss the Binary Logistic Regression Classification method of analysis, and how it can be used in business. What Is Binary Logistic Regression Classification? Logistic regression measures the relationship between the categorical target variable and one or more independent variables. It is useful for situations in which the outcome for a […]
What Is KNN Classification and How Can This Analysis Help an Enterprise?
Click to learn more about author Kartik Patel. In this article, we will discuss the KNN Classification method of analysis. What Is the KNN Classification Algorithm? The KNN (K Nearest Neighbors) algorithm analyzes all available data points and classifies this data, then classifies new cases based on these established categories. It is useful for recognizing patterns […]
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 […]
NLP Makes Every Business User More Comfortable with Analytics
Click to learn more about author Kartik Patel. Your business users probably fight you on improving Data Literacy and on implementing digital transformation. Many business users have a fear of analytics and envision having to become a business analyst or a data scientist in order to fulfill the vision of the business and its citizen data […]
What Are Simple Random Sampling and Stratified Random Sampling Analytical Techniques?
Click to learn more about author Kartik Patel. This article discusses the analytical technique known as sampling and provides a brief explanation of two types of sampling analysis and how each of these methods is applied. What Is Sampling Analysis? Sampling is the technique of selecting a representative part of a population for the purpose of […]