Statistical Analysis
Collecting, validating and storing data is the bedrock on which any system is built, but statistical analysis is how we obtain critical insights and identify real value.
This work often begins by examining the fundamental properties of the data, using tools including Heat Maps, Pivot Charts and Crosstab Queries. These methods can provide important clues in understanding which areas of the data, alone and in combination, offer the strongest predictive value.
Different types of regression analysis can help quantify the significance of these relationships, and when they are well understood, the hypotheses can be tested on unseen data.
While machine learning techniques can produce highly complex algorithms, without understanding the fundamental basis of a model, a purely black-box solution may not be desirable in most real world applications.
Good statistical analysis is finding the perfect balance between simplicity and predictive power.
