For example, “I want to understand the impact of employee satisfaction on product sales.” The independent variable is the factor that could impact the dependent variable. What relationship are you aiming to explore? Try formatting your answer like this: “I want to understand the impact of on. DOWNLOAD NOWįoundational Concepts for Regression Analysisīefore diving into regression analysis, you need to build foundational knowledge of statistical concepts and relationships. If you aren’t a business or data analyst, you may not run regressions yourself, but knowing how analysis works can provide important insight into which factors impact product sales and, thus, which are worth improving.įree E-Book: A Beginner's Guide to Data & AnalyticsĪccess your free e-book today. To learn how each factor influences sales, you need to use a statistical analysis method called regression analysis. Understanding the relationships between each factor and product sales can enable you to pinpoint areas for improvement, helping you drive more sales. They range from customers’ physical locations to satisfaction levels among sales representatives to your competitors' Black Friday sales. Imagine you seek to understand the factors that influence people’s decision to buy your company’s product. How can you consider those factors and know their true impact? Countless factors impact every facet of business.
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