“Truth is a Pathless Land”

...but finding an effective solution to your business problem does not have to be. Business analytics landscape does actually appear so, with a myriad techniques and vendor tools in the market.

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Logistic regression for business analytics using RapidMiner: Part 2

logistic regressio sigmoid curve

In part 1 we gave a brief introduction to logistic regression and indicated when it might be appropriate to use it in business analytics settings. Probably the best definition of Logistic regression is this " ... a mathematical modeling approach in which the best-fitting, yet least-restrictive model is desired to describe the relationship between several independent explanatory variables and a dependent dichotomous response variable".

How to evaluate classification models for business analytics - Part 2

evaluating classification models balanced bar 800

In this previous article we described how to construct basic tools such as the "confusion matrix" and Lift/Gain charts for evaluating classification models used for business analytics and predictive analytics. In this article we describe another common evaluation tool - the Receiver Operating Characteristics (ROC) chart and its Area Under Curve (AUC).

How to evaluate classification models for business analytics - Part 1

analytics modeling evaluation sequence

The process of developing models for advanced business analytics deployment follows a process that is similar to this diagram.

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