Retail business is one of the growing and profitable business in the world. There are many global players in the retail business like Walmart, Amazon, Costco etc. Data analytics is playing a major role in the retail industry in terms of segmentation and targeting of appropriate customers, forecasting of sales and many more. Among all … Read more
Correlation and regression, both are commonly used and popular concept in the field of statistics and data science applications. Though both correlation and regression the concepts are being used to understand the relation of two or more variables, many people may get confused between the same concepts. In this article, we’ll discuss both the concept in … Read more
There are four types of analytics segment broadly. Those are Descriptive analytics, Diagnostic analytics, Predictive Analytics & Prescriptive Analytics. So, we’ll discuss what is descriptive analytics. Among all four types of analytics, Descriptive Analytics is the starting point for any kind of analytics to find out what has happened in the past. Also, descriptive analytics … Read more
Bell Curve is a methodology to understand normal distribution of data. In other words, Bell Curve is the graphical form of normal distribution. In Bell Curve, X axis represents the values of distribution and Y axis represents the frequency of each value.
In 21st century, probably Box and Whisker plot or Boxplot is the mostly used graph in descriptive analytics. Box and Whisker plot is showing five-point summary of a data.