Regression analysis is helpful statistical method that can be leveraged across an organization to determine the degree to which particular independent variables are influencing dependent variables.
The possible scenarios for conducting regression analysis to yield valuable, actionable business insights are endless.
The next time someone in your business is proposing a hypothesis that states that one factor, whether you can control that factor or not, is impacting a portion of the business, suggest performing a regression analysis to determine just how confident you should be in that hypothesis! This will allow you to make more informed business decisions, allocate resources more efficiently, and ultimately boost your bottom line.