From the course: Introduction to Business Analytics (2020)
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Statistics for analysts
From the course: Introduction to Business Analytics (2020)
Statistics for analysts
- If you're brand new to analytics, then you may be a little bit worried that you don't have enough statistical knowledge to be an effective analyst. And if you're looking to jump into predictive modeling, you might be right. But if you're just looking to mine your data for insights, the math needed to get this test done really isn't too intimidating. In fact, you can get 80 to 90% of your job done with a simple SUM or AVERAGE function. As long as you have a tool that can segment your data like, Tableau or a pivot chart in Excel. The first kind of analysis is aggregation or more simply put, just a SUM function. This is about 90% of what I do as a director of analytics as Silvertone Analytics. Most of my time is spent understanding business needs and creating or cleaning data sources for the clients we serve. Finding out which of your categories is selling well, which of your marketing channels are generating the most…
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