Questions tagged [business-intelligence]

business intelligence is statistics and data analysis of business information.

Filter by
Sorted by
Tagged with
14
votes
4answers
765 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 ...
14
votes
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 ...
14
votes
3answers
11k views

RFM & customer lifetime value modeling in R

Can anybody tell me how to do recency, frequency & monetary value (RFM) modeling & customer value modeling in R? Also, can somebody refer me some literature on it?
6
votes
7answers
4k views

What is the best tool for customer segmentation?

I have a customer data set with the following data: The number of purchases that each customer made The Date that they made each purchase The Date that they signed up The amount they spent on ...
5
votes
1answer
186 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 ...
4
votes
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
votes
2answers
3k 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 ...
4
votes
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
votes
2answers
701 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 ...
4
votes
1answer
204 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 ...
4
votes
1answer
186 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 ...
4
votes
2answers
170 views

Checking what attributes of a population made objects more likely to do certain action

I'm pretty lost at how to approach this, and particularly with regards to the terminology; so please feel free to point to resources, fix my question name, etc. Thanks. I used R back in college, I've ...
3
votes
4answers
3k views

Useful statistical functions for business — for use by a newbie

I am a database developer working for a sales and manufacturing business. I am mostly ignorant about statistics. We need useful metrics. Our managers are tuned to accounting, and the vagaries of ...
3
votes
3answers
314 views

How to classify customers by those who use quite a lot of shops vs. mostly one specific shop

I would be interested in how to approach the following problem: A supermarket chain has 1 million customers in a region and 10 shops. For each of the customers we know the distribution for all the ...
3
votes
1answer
287 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 ...
3
votes
1answer
171 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 ...
2
votes
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 ...
2
votes
2answers
42 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....
2
votes
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
votes
1answer
263 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 ...
2
votes
1answer
35 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 ...
2
votes
1answer
67 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 ...
2
votes
1answer
180 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 ...
2
votes
0answers
21 views

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 ...
2
votes
0answers
117 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 ...
2
votes
0answers
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
votes
1answer
66 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'...
2
votes
0answers
37 views

Clustering stream of new customers based on future potential?

I need to cluster new customer according to their future potential, but I have only information about their first transaction. I have access to all transactions for the other customers. So I can do a ...
2
votes
1answer
172 views

Clustering Consumer data with over 100 variables and 50000 rows each

I am tasked with performing a clustering exercise for a consumer survey dataset with the hopes of finding distinct consumer segments. In the past, I've done it using a variety of techniques- ...
2
votes
0answers
303 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 ...
2
votes
3answers
1k 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 ...
1
vote
1answer
1k views

How should I compare average store sales change across time?

I have what seems like a fairly common business statistics scenario: I need to compare one group of stores to another group of stores and be able to say if their difference in sales is statistically ...
1
vote
1answer
34 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 ...
1
vote
1answer
251 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 ...
1
vote
1answer
70 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 ...
1
vote
2answers
865 views

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). ...
1
vote
1answer
47 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. ...
1
vote
1answer
924 views

Customer behavior analysis and clustering using data from loyalty program?

I'm trying to do some analysis on customers behavior. Basically, I have information on customer's loyalty points activities data (e.g. how many points they have earned, how many points they have used, ...
1
vote
1answer
929 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 ...
1
vote
1answer
620 views

How is survey respondent segmentation based on market opportunity score done in practice?

As per instructions, I have administered a survey to a sample population that for several different "jobs-to-be-done" asks the survey participants to rate the importance of the "job-...
1
vote
1answer
166 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 (...
1
vote
1answer
1k views

Combining metrics for score card

We are building a score card system to measure the performance of various groups in the organization. The scores are generated by true / false metrics on individual transactions that each group ...
1
vote
0answers
29 views

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 ...
1
vote
1answer
19 views

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 (...
1
vote
0answers
49 views

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 ...
1
vote
1answer
39 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 ...
1
vote
0answers
278 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: ...
1
vote
1answer
67 views

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/...
1
vote
1answer
52 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 ...
1
vote
0answers
203 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, ...