Segmentation: Cluster And Linear Discriminant Analysis
A Way to Better Targeting Simply put, segmentation means dividing a our targeted customers into groups with distinct characteristics, so...
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- 5 min
Outlier Detection and Handling
What Should We Do with Extreme Values? Every time we ask for a numerical response like income, expenditure, consumption, etc., and allow...
- 3 min
Switching analysis
How Do We Know Who the Competitors Are? In business context, we can define competitors as brands with which we compete in the market....
- 8 min
Statistical Significance Explained
On the Example of A/B Testing We frequently hear that a result is "statistically significant." But, what does that mean? Can we explain...
- 5 min
Sampling Part 1: Basics of Sampling
How Can We Learn Anything about the Whole Country by Asking Only 1000 People? Almost all adults have experienced voting. Based on that...
- 3 min
Sampling Part 2: Determining Sample Size
How Large Should My Sample Be? In the first post about sampling, we talked about what a sample is, how it relates to the population, and...
- 8 min
Sampling Part 3: Sampling Methods
Sampling In Practice In Part 1 and Part 2 of the series on sampling, we talked a lot about the theory. Now, it’s time to put it into...
- 5 min
Driver analysis
Which Features Are Important And Which Not So Much? When we develop a product or a service, we face many trade-offs. We have to decide...
- 3 min
Correspondence analysis
Brand Image Mapping Most brand managers know what their brands stand for and how they want to position them among the competitors....
Data in Practice, 2021. Photo: Unsplash & Veljko Pejović.
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