Regression Analysis Defined
Regression analysis is a reliable analytical and statistical method of identifying which variables have impact on a topic of interest. The process of performing a regression allows a business to confidently answer questions such as which factors matter most, which factors can be ignored, how these factors influence each other, and predicting the future of these factor.
In terms of marketing, regression analysis allows marketers to see what factors of their marketing efforts and campaigns relate to others. It allows for the exploration of relationships between different marketing outlooks and actions, creating a foundation for testing causality.
Some examples of how a regression analysis can be used for marketing purposes include:
- Analyzing if Social Engagement affects to Conversion Rate
- Discovering whether E-mail Open Rates increase Page Views
There are different types of regression including:
- Linear regression
- Logistic regression
- Polynomial regression
- Stepwise regression
- Ridge regression
- Lasso regression
- Elastic Net regression
In Data Defined, we help make the complex world of data more accessible by explaining some of the most complex aspects of the field.
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