Author Archive
Analytics
Text Mining: The Maverick Tools
Unstructured data is abundant in most organizations but to date has not been tapped as a source of business intelligence. Free-form text, audio, and video are the most common forms of unstructured data. Recent advances in compu...
Analytics
The Paradigm Shift in Consumerism
Business organisations are incorporating the consumers’ knowledge in the various processes through the help of customer relationship management and knowledge management tools. In the knowledge economy, the consumers or the end ...
Analytics
Revolutionizing with Balanced Scorecard
The idea behind the balanced scorecard is to give decision makers a performance measurement and planning tool that is easy to understand and focused, and that can help the company link its strategic plan with key performance in...
Analytics
Correlation is not causation :Essential Dose
"just because two things correlate does not necessarily mean that one causes the other... correlation is not causation"
Analytics
What is Path Analysis?
Path analysis can be defined as a statistical technique which makes use of multiple regression to test causal relationships between variables. It is used not only to test causal relationships but also to ask questions about the...
Analytics
Logistic regression
Logistic regression is used when the measure on the predicted variable is dichotomous. Logistic regression is the more flexible technique because it makes no assumptions about the nature of the relationship between the independ...
Analytics
Time Series Analysis:Classical Approach
A time series is a set of observed values, such as production or sales data, for a sequentially ordered series of time periods. A time series is portrayed graphically by a line graph, with the time periods represented on the ho...
Analytics
A Brief Encounter with Principal Components Analysis
Principal Components Analysis is a method that reduces data dimensionality by performing a covariance analysis between factors. As such, it is suitable for data sets in multiple dimensions. PCA is recommended as an exploratory ...
Analytics
Structural Equation Modelling: How much is fit enough?
There are some major indicators which determine the fitness of a SEM. Main indices are: goodness-of-fit index (GFI), adjusted goodness-of-fit index (AGFI), root mean squared residual (RMR) and root mean squared error of approxi...
