Regression techniques are one of the most popular statistical techniques used for predictive modeling and data mining tasks. On average, analytics professionals know only 2-3 types of regression which are commo
Regression analysis is an important tool for modelling and analyzing data. Here, we fit a curve / line to the data points, in such a manner that the differences between the distances of data points from the curve or line is minimized. I’ll explain this in more details in coming sections...
Predictive analytics uses statistical analysis, machine learning, data mining, and time series analysis. It predicts future events. By combining historical data with advanced algorithms, it forecasts future trends and customer behavior. Tools like linear regression models predict sales and customer churn....
Ridge Regression is a technique used when the data suffers from multicollinearity ( independent variables are highly correlated). In multicollinearity, even though the least squares estimates (OLS) are unbiased, their variances are large which deviates the observed value far from the true value. By ...
Basic knowledge about statistical methods are essential: What are the independent variables in your regression analysis? Of course, you should choose the type of analysis before you start the data analysis process. Descriptive data analysis The purpose of descriptive data analysis is to describe the ...
This can be achieved by statistical analysis ranging from standard linear regression to advancedmachine learning algorithm implementations. Once the related factors are identified, they are further analyzed in isolation. Examples of diagnostic analytics include the analysis of shopping trends during peak sea...
Today, it's crucial to grasp the full range of data analytics for guiding your company. This knowledge leads to smart business strategies and better operations. As data grows in volume and complexity, understanding it becomes essential. We'll dive into the different analytics types and how they...
Classification is a supervised machine learning technique used for categorizing data into predefined classes. It determines which class a given input belongs to based on historical data and patterns. Here we have a list of some of the regression algorithms: ...
For instance, verifying a correlation between a dependent variable and multiple independent ones may require you to plug your data points into a regression formula to find a “line of best fit.” This allows you to see a more accurate view of the relationship between the variables to then dra...
The Complexity of Applications: To test complex applications, you must perform regression testing several times. So, it becomes time-consuming and creates pressure to finish the task on a tight deadline. Thus, proper planning, prioritizing the test case, and up-skilling the test team can solve...