Questions tagged [business-intelligence]
business intelligence is statistics and data analysis of business information.
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Using scale pos weight and non 0.5 cut off score for a look-alike model
I'm working on a classification problem where I'm trying to identify look-alikes of Class 1 in Class 0. Class 1 and Class 0 are established based on type of product customers use. Basically, Class 1 ...
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Pros and Cons Using Bayesian Metrics or Time Series Approach?
I have two years' worth of sales data for a range of products, including:
Sales: Total sales revenue
Usage Time: Total usage time in hours
Reviews: Numeric ratings and textual reviews from users
I'm ...
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How to find a consistency index for a binary variable?
I am working on a project where there are 2 variables to monitor, say sales (actual) and projected sales (target).
The sales ...
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Statistics to detect employee/customer collusion
I'm an analyst at an agency that operates landfills. There was a recent discovery that certain trash haulers colluded with 2 or 3 weigh-masters to undercharge in return for kickbacks. I'm tasked ...
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Converting Mean Customer Satisfaction to 2TB Score
In Previous years we have reported on mean satisfaction for customer satisfaction. Previous years have been calculated on a 5 point scale. We have moved to T2B satisfaction ratings with the scale ...
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Which algorithm for cost prediction?
I don’t have any experience in creating statistical models.
My goal is to to predict future costs for specific areas in the field of facility management (for example repair/maintenance).
I have data ...
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Regression of Purchase Count using Offset Term to Carry Information About Package Size/Count
Hello: I am interested in modelling the purchase rate over time (an integer number of purchases, observed daily, for a number of shoppers) for a collection of 3 different products.
The data look a ...
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How to tell whether segments from K Means clustering result are "successful" and will impact business metrics?
Background
I'm a data analyst. The Business unit I'm assigned for needs to segment users based on power vs non-power users so they can target each segment with proper treatments.
Goal
Segment users (...
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How to build an acquisition models?
I have historical transaction data for a B2B business. I want to prepare acquisition models where the model will predict the potential buyers who haven't purchased from the business yet.
In addition ...
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How to determine if a change in (traffic or user behavior) has had a negative impact on the overall system
How to determine if a change in (traffic or user behavior) has had a negative impact on the overall system? For ex: if we introduce a new line of shoes, the older ones will might see a decline in ...
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A good textbook about value at risk in R? [closed]
I am so new to business applications and interested in learning about value at risk. My question is, could you please recommend for me a nice/easy book about value at risk with applications using the ...
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What would be best the best way for multiple companies to consolidate their demand forecasting together?
I am currently reading up on my demand forecasting knowledge and had this question where I can't seem to find a quick answer for.
Let's say you have a couple of stores/restaurants/etc that sell more ...
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What is the general right call to make from a marginal difference in A/B test results in recommender system?
This was one of the business-related questions from my technical interview last week for a data science position in a recommender system team at a search engine company focusing on advertisement ...
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Accounting for time effects with time covariates vs. instrumental variables or other alternatives
I have sales data where I expect some structure in time due to inflation, market changes, etc.
I am not a statistician by training, but I am aware of the issues that this presents and the technique of ...
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Estimating demand from partially right-censored sales data
Imagine a company is having limited-time sales events of certain limited editions of their products. Let's consider 3 such events, each featuring a different product, with limited inventory of 600 ...
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Company selling consumer goods on e-commerce channel want to reduce customer returns
I have a use case as below
One company selling products online would like to understand how to reduce returns from customers. They on an average have 25% returns. They have data for orders which have ...
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How to avoid selection bias while updating lead scoring (predictive) model with new data
We developed a standard lead scoring model using logistic regression on couple of months worth data. The model has been working and we have been pushing only top 1/3 leads to sales team basis that. ...
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Method for determining the root cause behind a drop in business performance
What methods are there for determining the root cause behind a drop in business performance? My question is best explained with a very simple example...
There are two Widget Factories (A and B).
Each ...
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Applying ML to Diagnostic Analytics on Financial Report
Background:
We (a team in the IT department) are currently helping the financial team solve their problem, by automating their tasks.
The task is this: they review the financial report monthly and ...
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1
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Given sales data from multiple shops, what is the best way to determine profitability of a shop with inconsistent sales times
I have a dataset of sales data (individual sales from multiple shops in an area, date sale was made on given) from multiple shops (denoted by the field shop_number). I calculated a field for profit (...
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Test difference in proportions between values of same polytomous variable
What is the right test to compare sample proportions between two values of the same polytomous variable? Basically I'm searching for the right search term.
E.g. consider a survey question, Q1. What ...
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How to compare and evaluate different business concepts?
Don't ask me how exactly I came up with this question but I wonder about the following:
Assume you want to compare different offers in how requested (and/or how profitable) they are. In addition, due ...
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330
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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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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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Can I model website conversion as a binomial distribution?
Suppose I have a website where people buy something and I've measured the conversion (calculated as buyers / visitors), and it's 0.05.
I want to know what the probabilities are for the different ...
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231
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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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54
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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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31
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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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2
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62
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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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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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305
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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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1k
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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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28
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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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504
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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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What methods could/should I use for identifying sub-groups in a customer segmentation?
I am working on a segmentation model that has been fed into the company by an external agency which created the segmentation based on surveys. I have a number of 6 attitudinal segments and after ...
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224
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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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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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518
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Pareto/NBD and New/Existing Customers
I am looking at implementing a Pareto/NBD model to forecast customer lifetime value in a non-contractual business setting. One thing I haven't got my head around yet is whether such a model is equally ...
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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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1
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215
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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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71
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Feature Identification for customer profiling
Problem: I want to identify the characteristic(s) of people who would shop on Monday vs Sunday (or any such dichotomous response variable).
I have over a million observations and >50 variables/...
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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. ...
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3
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2k
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customer segmentation with categorical variables
I have a customer dataset, which is a survey result. I have 1595 obs. and about 200 columns (200 because most of the cases the questions were multiple choice and we had to split it into columns). ...
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74
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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 $1,000'...
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How can we model the visit pattern of a customer in a retail store?
I am trying to segment customers based on how recently they visited the store. However, I am also trying to incorporate the frequency with which they visit the store. For example, in a data collected ...
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What is the resulting increase in Sales ($ 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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1k
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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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63
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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 ...
karenP
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69
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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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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 (...