This article describes the analytical technique of random forest regression.
Category: Business Intelligence
Don’t Be Afraid of Self-Serve Data Preparation! It’s Easy. You Can Do It!
Oh, the mysterious world of data preparation! It is daunting and confusing and…wait, no! It doesn’t have to be. If you aren’t employed as an IT professional, a business analyst or a data scientist, you probably see this arena as confusing and intimidating and you probably want nothing to do with data preparation. BUT, when you need a report, or you have to provide a recommendation to your boss in a staff meeting, you desperately need that data and that analysis, don’t you?
We invite you to explore our latest knowledgebase articles and to join the Smarten user community on Smarten Support Portal.
Small eCommerce Businesses Can Improve Results with Analytics!
If you are a business owner with an eCommerce or online shopping site, you probably spend a lot of time trying to understand your business results. There are numerous surveys that address the market and the activity in online shopping. Regardless of which survey you read, you are probably surprised to know that more than 2 billion people shop online. But, those numbers don’t tell the whole story. It is also important to understand that people will often check prices online while they are standing in a retail store just to see if they can find something at a better price. So, they don’t always buy your services or products just because they visit your site. And, you are probably not surprised to know that your competition is growing every day. You know that better than anyone.
One of the most valuable aspects of self-serve business intelligence is the opportunity it provides for data and analytical sharing among business users within the organization. When business users adopt true self-serve BI tools like Plug n’ Play Predictive Analysis, Smart Data Visualization, and Self-Serve Data Preparation, they can apply the domain knowledge and skill they have developed in their role to create reports, analyze data and make recommendations and decisions with confidence.
1. Outlier, an Outsider!
Outliers, also referred to as anomaly, exception, irregularity, deviation, oddity, arise in data analysis when the data records differ dramatically from the other observations. In layman’s terms, an outlier can be interpreted as any value that is numerically far-flung from most of the data points in a sample of data.
How Can I Make it Easier for Business Users to Perform Analytics?
When a business wants to roll out advanced analytics to its business users, it must consider the average skill level and understanding of analytical techniques and ensure that the solution it chooses will support its project goals. One of the most important factors of business user analytics is user-friendly, simple analytics in an augmented analytics environment.
Not Just Any BI Tool! You Need Mobile BI for Every Device AND Great Performance!
If you are considering a modern business intelligence solution, there is a real necessity to choose an option that provides mobile business intelligence access and capability. Today’s workforce is mobile and team members expect to have seamless access, no matter the device they choose to use. Mobile BI solutions enable data sharing, fact-based decision making and optimize productivity. No matter where your team members are, in or out of the office, they should have access to critical business intelligence in order to keep your business moving and fulfill their roles and responsibilities.
Create an Environment that is Suitable for Citizen Data Scientists!
When a business user takes on the new role of Citizen Data Scientist, it is often with misgivings and concerns. If their business and management team have not adequately explained the expectations of this new role, or made the workflow and cultural changes required to ensure that this new role is successful, the business user and team member is likely to fail, and the Citizen Data Scientist initiative is likely to fail.
Is Predictive Analytics Real or Does it Promise More Than it Delivers?
Why would anyone want or need to use predictive analytics? What good is forecasting anyway? Doesn’t it always end up being wrong? Well, no! That’s why wise businesses use these techniques to plan and forecast and to understand how a change they are considering might impact their business success. Nearly every organization today is using analytics to improve productivity, competitive positioning, market presence, financial investment strategies, price point planning, risk mitigation and many other business factors.
