Questions tagged [business-intelligence]

business intelligence is statistics and data analysis of business information.

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24 views

How to properly calculate weighted average when the data is in form of ratio

I had a question related to calculating weighted average, on data example below given definition : Column C = Product Supply Column D = Product Demand Column E = Supply / Demand Column F = Demand ...
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1answer
41 views

Regression with same values for dependent variables?

I am performing a regression task on a relatively small dataset (4000 observations). These 4000 observations are grouped in such a way, that if I look at the dependent variable, there are only about ...
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34 views

Statistical Significance: Can we apply the concept of Statistical Significance when reading the results of AI driven marketing?

Really need to know this from someone who really understands statistical significance. Can we apply Statistical Significance when reading the results of AI driven marketing? Challenge: Large ...
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1answer
28 views

Advice on how to answer the “how large of a sample size do we need to show results” question to non-quant people in a business setting

Not sure if this question is too vague, but I'll give it a shot. I've received many questions from non-quantitative colleagues along the lines of "what sample size do we need to trust these ...
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10 views

Customer Retention Rate for a subscription business selling products with multiple contract durations

I have a question related to the standard metric used to evaluate subscription model businesses, aka user retention. We define user retention as the percentage of customers that keep their ...
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1answer
31 views

How I generate more data to do analyses?

I have a datasets for 3 months, its about a vehicle movement and the gas consumption. The vehicle should refill gas after 750 km driving. But the data I have is not enough. The first month I have only ...
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11 views

Using a regression beta coefficient as a KPI?

I have a complicated mixed effects regression that predicts the log_price. One of the regression parameters estimates the Beta_1, difference in log price between group A and group B. Group A is ...
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2answers
34 views

Practical use of median?

Someone recently asked me the business use of various measures of central tendencies. Although the usage of mean and mode is intuitive and easily seen, I could not think of one intuitive use of median....
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3answers
1k views

When is NHST appropriate in business?

Null hypothesis significance testing seems to be widely used in business. The most obvious example is A/B Testing, where a business will perform a test comparing two variants of some aspect of their ...
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41 views

Calculate CLV / TLV for contractual Business

I am desperately trying to apply a CLV/TLV (Customer Lifetime Value) algorithm to my dataset in R. Unfortunately, the more I read about it, the less confident I get if all makes sense. =) Do you have ...
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6 views

Markov Switching CHP test

In Hamilton's paper "What is real about business cycles?" (2005) I have three questions: 1) How do we calculate C(p; theta) on page 451 if we do not know "nuisance" parameter values of p? 2) What was ...
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78 views

Calculating growth rate from a baseline of exactly zero

Say we have a series of month-on-month figures like the following, and we want to get the growth rate between the two periods: ...
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21 views

Drawing a causal conclusion about a change in production code

We had a change in our production code which we did not perform A/B test for. A few days after the product is changed, we have been seeing a significant drop in our quality metrics. Is there any way ...
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1answer
88 views

Survival Analysis on conversion rates

I'm trying to implement survival analysis on conversion rates for a free trial product we provide. In general, I understand the applications on survival analysis along with dealing with right censored ...
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126 views

How to forecast individual customer's spend (for millions of customers)?

Which forecasting model fits better to forecast the customers spend in the next upcoming visit? We have millions of customers, so ARIMA or any other time series modeling for each of the customers is ...
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1answer
51 views

Difference between forecasting model, forecasting method and forecasting function

I am new to the field of Business Analytics. Can anyone distinguish between forecasting model, forecasting method and forecasting function? According to the book forecasting function is is an equation ...
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1answer
15 views

Architecture to build model off of partners data while protecting each partners intellectual property

Are there any architectures that allow two partners to build a model while protecting each of their respective intellectual property (IP)? For example: Company A builds machine learning models ...
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1answer
55 views

Regression with negative values, inverse regression, cost stickiness

I'm doing an analysis of cost stickiness with change in cost and change in revenue. Cost stickiness means that the percentage cost will decrease when revenue decreases is lower than the percentage ...
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32 views

Which statistical figures should be used to describe my data set [closed]

I apologize if this question has been asked before. I am looking for the best way to describe my data set. A little background - I am a algorithmic programmer with a physics/mathematics background. ...
2
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1answer
62 views

Return on investment for a vaccine

I have been tasked with finding the return on investment of a vaccine. The vaccine is used by farmers for their cows and the number of cows kept varies drastically between farmers (from $1$ to $1,000'...
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1answer
59 views

What is the resulting increase in Sales ($ and %) from a treatment?

I have 43 weeks of data (here) that show the resulting weekly sales of a group of test stores which received a treatment and sales of other "control" stores that did not. There were 36 test stores and ...
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2answers
551 views

Calculate mean from cumulative percentage table

Is it possible to calculate mean from cumulative percentage table below? Scenario: Bob is a manager. He is trying to estimate the sales for the next year, and from his experience, he knows the sales ...
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3answers
60 views

Correct statistics technique for prob below

I am kind-of stuck with a small problem here. I can't find a proper statistics based technique which will solve my problem! Problem: I have a dependent variable (Categorical 4 Levels), and 6 ...
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1answer
44 views

Choosing a significance test for employee performance

I'm analyzing employee performance at a call-center. I'd like indicate whether a particular employee's conversion (success) rate is significantly different from the average/expected conversion rate. ...
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1answer
61 views

Is there any “Intro to Statistics” for business and mangement use?

I am looking for an "Introduction to Statistics" to apply to business and management. Can someone recommend a source they have used (maybe in their MBA or similar studies) that is available online (...
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1answer
746 views

Practical Examples of What Econometrics Can Do for a Business? [closed]

Hello, all. So, as a beginning MA student in Economics, I had to take a basic Econometrics course (which was absolutely fascinating and I really loved it), and it seemed like a genuinely practical ...
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25 views

Suitable and efficient comparison metric/index for price data

I have price data for similar products in different stores like below ...
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23 views

Is there a standard set of reports that can be applied to any dataset?

I work for a small recycling firm and we have built and maintain a stock management system. I've been asked to implement some reports over our dataset but I have no background in BI or statistics. I'm ...
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1answer
48 views

Can CAPM be applied in this non-financial context?

I want to get a "score" which measures the efficiency of truck planners at a site which despatches boxes of identical size to multiple destinations. This is measured by how full each truck is, on ...
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176 views

Aggregation system for percentage Key Performance Indicators (KPIs)

I need some suggestions for an issue regarding our business intelligence (BI) system, percentage Key Performance Indicators (KPIs) and average values. I am using a BI system for our organization, ...
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2answers
127 views

What is the statistical method that I should use for the following problem?

I have been given a problem and need to find the best statistical method that would help. The problem is as follows: A business has approx. 100,000 active customers who spend between £500 per annum ...
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3answers
872 views

Accuracy of a probability estimate

How can you classify the accuracy of a probability? Say I do a study of people that like bananas in 2 different regions. Region 1: 8 out of 10 people tested like bananas. Region 2: 500 out of 1000 ...
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1answer
63 views

Calculating Revenue per customer for a series of emails over time, which have a normal decay rate

I am analyzing data for an email marketing company. We have x amount of subscribers that come in at some point in time. We promote zero or more emails to these individuals daily, for several ...
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1answer
31 views

How to average days until completion when some items haven't completed the cycle?

I am attempting to calculate the average number of days it takes for an order to go through our process - from receipt of order to delivery. When calculating the average days, how should I handle ...
3
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1answer
197 views

What challenges can data science help with in small businesses

Data science can solve/help with many challenges. But it usually looked upon as something for multi-million dollar corporations. I'm looking for examples of challenges data science helped with in ...
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2answers
888 views

Odds vs probability in logistic regression

I am going through Trevor Hastie's Classification Techniques. Its says Odds are traditionally used instead of probabilities in horse-racing. I still don't understand how they relate more ...
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1answer
157 views

Measuring impact of advertising on retail sales

I have a dataset of retail products which contains weekly sales for 12 different items in a single category. For each item, I have three dummy variables representing different types of advertising (...
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4answers
752 views

Good practice for statistical analysis in a business environment

(While I realise this isn't strictly about statistics, it is about the dissemination of statistics in a business environment so I have assumed it is still within the topic range of CV) A brief bit of ...
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1answer
253 views

ROI Social Media

I'm trying to estimate the ROI of a social media campaign but the main issue I'm falling into is linking social media spend to actual company sales. More followers/tweets/likes/fans etc may just mean ...
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0answers
267 views

Difficulty identifying diminishing returns from additional SKUs

As a work assignment, I've been asked to determine the optimal SKU count for a product group. I've decided to tackle this Q using a simple linear regression with sales as my dependent variable and the ...
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2answers
2k views

How to write log-likelihood for beta-geometric with optim() in R?

I am trying to estimate the parameters for a shifted beta-geometric distribution to model user churn, as shown in this paper. The log-likelihood function is described there and solved via Excel, and I ...
2
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2answers
3k views

What is the difference between Visualization and BI Visualization?

I am currently doing visualization on my project and I need to know whether the visualization I have done is BI visualization or not. So is there any difference between Visualization and BI ...
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1answer
184 views

Should I use Bayes' formula to generate simple data about business competition and the market place?

I run a small business, and I'm keen on understanding my market a little more. Market surveying and similar tools are not available to me, mainly due to time and budget. I don't require rock-solid ...
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140 views

MS business intelligence development studio CART analysis

I'm doing some clinical database research and in an effort to lessen the burden on our statistical staff, I started to look for different software solutions to get the analyses I need, and that's ...
3
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1answer
3k views

Standard deviation of revenue where numbers are only positive

Is there a way for standard deviation to ignore negative numbers? In other words, how can you make it so that 2 or 3 deviations do not extend into negative territory? When looking at a set of only ...
4
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1answer
123 views

Layperson's guide to valid polling via Internet?

Sites such as Survey Monkey allow a layperson to easily create and administer a questionnaire. However, the only thing I know about polling is that you can't just create a questionnaire, let anyone ...
4
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1answer
179 views

What's the probability a rabbit will return to a (certain) forest?

Let's assume we have a forest. And there is a breed of rabbits that is visiting that forest all the time. It is possible to distinguish every individual rabbit. There are devices in that forest ...
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1answer
250 views

How can you summarize growth in the “production” rate per person?

I have been reading the book, Good to Great by Jim Collins. It says that you should focus on information that "cannot be ignored," and that you should focus on the right "denominator." I thought it ...
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2answers
532 views

Doing data analysis for property managers…any tips? [closed]

So I have data elements such as rent price, late payments, unit type and location. I haven't done statistical analysis since my university time where I majored in industrial engineering 2 years ago ...
2
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1answer
175 views

Algorithm to evaluate whether you should buy now or wait [closed]

I'm currently in search of an algorithm that can determine whether or not it's time to buy something (an item, a stock, a service, etc.) given an history of prices (30, 50, 100, ...). My idea is ...