Understanding Regression Analysis
by Amy Gallo
One of the most important types of data analysis is regression. It is a common approach used to draw conclusions from and make predictions based on data, but for those without a statistical or analytical background, it can also be complex and confusing.
To better understand this method and how companies use it, I talked with Thomas Redman, author of Data Driven: Profiting from Your Most Important Business Asset. He also advises organizations on their data and data quality programs.
What Is Regression Analysis?
Redman offers this example scenario: Suppose you’re a sales manager trying to predict next month’s numbers. You know that dozens, perhaps even hundreds, of factors from the weather ...