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Regression analysis is widely used for prediction and forecasting. Alteryx customers use these statistical tools to understand risk, fraud, customer retention and pricing, among many other business needs.
Regression analysis is a statistical process for estimating the relationships among variables. The common reason to use this tool is to ascertain a causal effect of one variable upon another, such as the effect of a price increase on demand, for example, the effect of a tobacco habit on an individual’s likelihood to be diagnosed with lung cancer.
Regression analysis is comprised of a variety of tools within Alteryx, which are part of the standard Alteryx Designer License.
This video provides a brief tutorial of using Regression Analysis tools on Major League Baseball Stats and includes an overview on how to configure the following tools:
Alteryx customers use predictive analytics to identify patterns found in historical and transactional data to identify risks as well as opportunities. Alteryx Predictive analytic tools are built on Open source R.
Alteryx users are not required to know R to execute predictive models because all of the models in Alteryx are packaged into easy-to-use macro tools that only require configuration. All predictive tools are macros, and therefore not a “black box”. Macros provide the user with the flexibility to open all models and dissect the logic, as well as see and modify the R-script(s) being executed.