Tool Mastery

A common task that analysts can run into (and a good practice when analyzing data) is to determine if the means of 2 sampled groups are significantly different. When this inquest arises, the Test of Means tool is right for you! To demonstrate how to configure this tool and how to interpret the results, a workflow has been attached. The attached workflow (v. 11.7 ) compares the amount of money that customers spent across different regions in the US. The Dollars_Spent field identifies the amount of money an individual spent and the Region field identifies the region that the individual resides in (NORTH, SOUTH, EAST, WEST).

As most of us can agree, predictive models can be extremely useful. Predictive models can help companies allocate their limited marketing budget on the most profitable group of customers,  help non-profit organizations to find the most willing donors to donate to their cause, or even determine the probability a student will be admitted into a given school. A well-designed predictive model can help us make smart and cost-effective business decisions.