What is Selection Bias?
What is Selection Bias?
13 April 2018 | by Tim Bock

A selection bias is the term used to describe the situation where an analysis has been conducted among a subset of the data (a sample)…

Continue reading

What is a Distance Matrix?
12 April 2018 | by Tim Bock

A distance matrix is a table that shows the distance between pairs of objects. For example, in the table below we can see a distance…

Continue reading

What is Raw Data?
11 April 2018 | by Tim Bock

Raw data typically refers to tables of data where each row contains an observation and each column represents a variable that describes some property of…

Continue reading

What is a P-Value?
What is a P-Value?
11 April 2018 | by Tim Bock

A p–value is quantitative summary of the evidence in favor or against a hypothesis of interest. It is computed using a statistical test. It is…

Continue reading

What are the Strengths and Weaknesses of Hierarchical Clustering?
What are the Strengths and Weaknesses of Hierarchical Clustering?
10 April 2018 | by Tim Bock

The strengths of hierarchical clustering are that it is easy to understand and easy to do. The weaknesses are that it rarely provides the best…

Continue reading

What are Segmentation Variables?
What are Segmentation Variables?
10 April 2018 | by Tim Bock

Market segmentation typically involves forming groups of similar people. The characteristics of people that are used to determine if the people are similar are called…

Continue reading

What is Autocorrelation?
What is Autocorrelation?
09 April 2018 | by Tim Bock

When you have a series of numbers, and there is a pattern such that values in the series can be predicted based on preceding values…

Continue reading

What is the Market Research Process?
09 April 2018 | by Tim Bock

The market research process consists of five steps: formulation of the research question(s), designing a research methodology, data collection, analysis, and communication of the findings….

Continue reading

How to Deal with Missing Values in Cluster Analysis
How to Deal with Missing Values in Cluster Analysis
06 April 2018 | by Tim Bock

Most of the widely used cluster analysis algorithms can be highly misleading or can simply fail when most or all the observations have some missing…

Continue reading

What are Variance Inflation Factors (VIFs)?
What are Variance Inflation Factors (VIFs)?
06 April 2018 | by Tim Bock

The variance inflation factor (VIF) quantifies the extent of correlation between one predictor and the other predictors in a model. It is used for diagnosing…

Continue reading

What is Linear Regression?
What is Linear Regression?
05 April 2018 | by Tim Bock

Linear regression quantifies the relationship between one or more predictor variables and one outcome variable. For example, linear regression can be used to quantify the…

Continue reading

How to Work Out the Number of Classes in Latent Class Analysis
How to Work Out the Number of Classes in Latent Class Analysis
05 April 2018 | by Tim Bock

Latent class analysis, which is also known as finite mixture modeling, requires the analyst to specify the number of classes prior to the application of…

Continue reading

How to Reduce the Number of Segmentation Variables
How to Reduce the Number of Segmentation Variables
04 April 2018 | by Tim Bock

A practical challenge when working out how to segment is that there are usually lots of possible variables, and you need to reduce that number….

Continue reading

How to Write Golden Questions for Market Segmentation
How to Write “Golden Questions” for Market Segmentation
04 April 2018 | by Tim Bock

Golden questions are questions used to allocate people to segments. They are also known as self-selection questions. The main applications of golden questions are: As…

Continue reading

salesforce, data migration
Querying data from Salesforce using Displayr and R
04 April 2018 | by Tim Ali

You can easily extract data from Salesforce.com using Displayr and the Salesforce.com API’s. In this post, we show you how to generate a Security Token…

Continue reading

What is Cluster Analysis?
What is Cluster Analysis?
03 April 2018 | by Tim Bock

Cluster analysis refers to algorithms that group similar objects into groups called clusters. The endpoint of cluster analysis is a set of clusters, where each…

Continue reading

What is Driver Analysis?
What is Driver Analysis?
03 April 2018 | by Tim Bock

Driver analysis, which is also known as key driver analysis, importance analysis, and relative importance analysis, quantifies the importance of a series of predictor variables…

Continue reading

What is Shapley Value Regression?
What is Shapley Value Regression?
29 March 2018 | by Tim Bock

Shapley Value regression is a technique for working out the relative importance of predictor variables in linear regression. Its principal application is to resolve a…

Continue reading

Keep updated with the latest in data science.