Global Research Syndicate
No Result
View All Result
  • Latest News
  • Consumer Research
  • Survey Research
  • Marketing Research
  • Industry Research
  • Data Collection
  • More
    • Data Analysis
    • Market Insights
  • Latest News
  • Consumer Research
  • Survey Research
  • Marketing Research
  • Industry Research
  • Data Collection
  • More
    • Data Analysis
    • Market Insights
No Result
View All Result
globalresearchsyndicate
No Result
View All Result
Home Data Analysis

Why Regression Analysis Is The Backbone For Enterprises

globalresearchsyndicate by globalresearchsyndicate
November 23, 2019
in Data Analysis
0
Why Regression Analysis Is The Backbone For Enterprises
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Principal, Carbon Analysis, BHP – Singapore « Carbon Pulse

Post-pandemic Era-Global Dog Diapers Market (Sales, Revenue, Price, Gross Profit and Competitors Analysis of Major Market) from 2015-2026 – KSU


Regression Analysis, a statistical technique, is used to evaluate the relationship between two or more variables. Regression analysis helps an organisation to understand what their data points represent and use them accordingly with the help of business analytical techniques in order to do better decision-making. In this analysis, you will understand how the typical value of the dependent variable changes when one of the independent variables is varied, while the other independent variables are held fixed. Business analysts and data professionals use this powerful statistical tool for removing the unwanted variables and select the important ones. There are several ways that an organisation use regression analysis and some of them are discussed below.



1| Decision-making

Organisations, in order to run smoothly as well as efficiently, need better decisions and must understand the effects of the decision taken. Organisations collect data about sales, investments, expenditures and other parameters and analyse it for improvement. The regression analysis helps the organisations to make sense of the data which is then used for gaining insights into an organisation. Business analysts and data professionals use the regression analysis to make strategic business decisions.   


W3Schools


2| Optimisation Of Business

The motive of regression analysis is to turn the collected data into actionable insights. The organisations are adopting data-driven decision making which eliminates the old-school techniques like guesswork or assuming a hypothesis which eventually improves the performance of work in an organisation. This analysis provides practical assistance to the management unit of the organisation. With lots of data available, the data can be analysed as well as understood to gain efficient insights and work smartly.

3| Predictive Analysis

Organisations use regression analysis in order to predict future events. In this process, the business analysts predict the man of the dependent variables for given specific values of the dependent variables. The multivariate linear regression is used for various important purposes such as forecasting sale volumes or create growth plans, etc. According to this article, the general procedure for using regression in order to make good predictions are mentioned below:

  • Research the subject-area so that you can build on the work of others. This research with the subsequent steps.
  • Collect data for the relevant variables.
  • Specify and assess your regression model.
  • If you have a model that adequately fits the data, use it to make predictions.

4| Risk Analysis

Most of the time while analysis data, the analyst make mistakes and made a confusion between correlation and causation. It is important to note and understand that correlation is not causation. The regression analysis is used by the organisations to assess the risk in the financial domain and other such domains and thus guide to make crucial business decisions. The linear regression analysis developed the capital asset pricing model which helps in taking financial decisions.

5| Understand The Failures

Besides the analysis of data, regression analysis also helps an organisation to understand any failure and learns from it to correct in the future analysis. Thee regression analysis basically provides quantitative support for the decision-making process. Predicting success can be said as one of the main assets of regression analysis such as analysing the data points of previous sales data as well as current sales data in an organisation to understand and predict the future success.

Use Cases

Pharmaceutical Companies

In pharmaceutical companies, regression analysis is used to analyse the quantitative stability data for the retest period or estimation of shelf life. In this approach, the nature of the relationship between an attribute and time determines whether the data should be transformed for linear regression analysis or non-linear regression analysis.

See Also


Finance

Simple linear regression is also known as Ordinary Least Squares (OLS) provides an overall rationale for the placing of the line of the best fit among the data points which are being studied. This tool is commonly used in forecasting and financial analysis. Another application such as the statistical method is fundamental to the Capital Asset Pricing Model (CAPM) which describes the relationship between the expected return and risk of investing in a security.

Credit Card

In the credit card company, regression analysis helps in understanding various factors like customer’s risk of credit default, expected consumer behaviour, prediction of credit balance, etc. and based on these results the company implements specific EMI options while minimising the default among risky customers.  


Enjoyed this story? Join our Telegram group. And be part of an engaging community.


Provide your comments below

comments

Ambika Choudhury

Ambika Choudhury

A Technical Journalist who loves writing about Machine Learning and Artificial Intelligence. A lover of music, writing and learning something out of the box. Contact: ambika.choudhury@analyticsindiamag.com

Related Posts

Principal, Carbon Analysis, BHP – Singapore « Carbon Pulse
Data Analysis

Principal, Carbon Analysis, BHP – Singapore « Carbon Pulse

January 21, 2021
Healthcare Mobility Solutions Market Status and Trend Analysis 2017-2026 (COVID-19 Version) – LionLowdown
Data Analysis

Post-pandemic Era-Global Dog Diapers Market (Sales, Revenue, Price, Gross Profit and Competitors Analysis of Major Market) from 2015-2026 – KSU

January 21, 2021
The relationship between cancer fatalism and education
Data Analysis

Distribution of the ACE1 D Allele in the Bosnian-Herzegovinian Population and its Possible Role in the Regional Epidemiological Picture of COVID-19

January 21, 2021
Thursday’s Market Minute: Tech Stocks Take Off – Benzinga
Data Analysis

Thursday’s Market Minute: Tech Stocks Take Off – Benzinga

January 21, 2021
The gold rally stalls at the 61.8% Fibonacci zone
Data Analysis

XAU/USD remains confined in a range around $1865-70 region

January 21, 2021
XRP, EOS, IOTA Price Analysis: 21 January
Data Analysis

XRP, EOS, IOTA Price Analysis: 21 January

January 21, 2021
Next Post
Calcium Pantothenate Market Growth Forecast Analysis by Top Manufacturers, Regions, Product Types and Application (2019 – 2026)

Calcium Pantothenate Market Growth Forecast Analysis by Top Manufacturers, Regions, Product Types and Application (2019 - 2026)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

‘Vatican Blackout’ Trends on Twitter as Trigger-Happy Users Try to Link It with US Election Fraud

‘Vatican Blackout’ Trends on Twitter as Trigger-Happy Users Try to Link It with US Election Fraud

January 10, 2021
Global Food Authenticity Industry

Fifth Third Bank Partners with Cardtronics to Enhance Brand Visibility in Carolinas through ATM Branding Program

February 4, 2020
Horowitz: Asian-American researcher fired from Michigan State administration for advancing facts about police shootings

Horowitz: Asian-American researcher fired from Michigan State administration for advancing facts about police shootings

July 8, 2020
Digital Learning Market 2020 industry report explores segmented by growth opportunities, emerging-trends, and industry verticals till 2025

Online Brand Protection Software Market report reviews size, share, analysis, trends, growth and forecast 2025

March 6, 2020
Survey finds 40% of fashion brands have not paid suppliers | Apparel Industry News

Survey finds 40% of fashion brands have not paid suppliers | Apparel Industry News

May 29, 2020

EDITOR'S PICK

Nestle S.A. (Switzerland), General Mills Inc. (U.S.), Kellogg Company (U.S.) – 3w Market News Reports

Stryker, Arthrex, Zimmer – 3w Market News Reports

July 17, 2020
Tencent to Co-launch Blockchain-powered Wine Traceability Platform

Tencent to Co-launch Blockchain-powered Wine Traceability Platform

August 1, 2020
Inkjet Dyes Market 2019 Global Outlook, Research, Trends and Forecast to 2025 – TechNews.mobi Market Reports

Global Water Hardness Test Kits Market 2019 Trends, Segmentation, Swot Analysis, Opportunities And Forecast To 2025 – The NyseNasdaqLive News

February 17, 2020
Global Disposable Medical Device Sensor Market Massive Growth of 2020-2028 with the Leading Players – Philips N.V., Freescale Semiconductors, Inc., Omnivision Technologies, Inc., GE Healthcare, Honeywell International

Global Disposable Medical Device Sensor Market Massive Growth of 2020-2028 with the Leading Players – Philips N.V., Freescale Semiconductors, Inc., Omnivision Technologies, Inc., GE Healthcare, Honeywell International

December 13, 2020

Categories

  • Consumer Research
  • Data Analysis
  • Data Collection
  • Industry Research
  • Latest News
  • Market Insights
  • Marketing Research
  • Survey Research
  • Uncategorized

Recent Posts

  • An Evolving Discipline of Medicine that is Critical for Holistic Management of Patients
  • Principal, Carbon Analysis, BHP – Singapore « Carbon Pulse
  • Fresh Figs Market Future Forecast and SWOT Analysis With Top Key Players: Alara Agri, Valley Fig Growers, Kirlioglu Figs, Athos Agricola, Isik Tarim – KSU
  • Privacy Policy
  • Terms of Use
  • Antispam
  • DMCA
  • Contact Us

Copyright © 2020 Globalresearchsyndicate.com.

No Result
View All Result
  • Latest News
  • Consumer Research
  • Survey Research
  • Marketing Research
  • Industry Research
  • Data Collection
  • More
    • Data Analysis
    • Market Insights

Copyright © 2020 Globalresearchsyndicate.com.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In