In previous posts, we explored the role of descriptive statistics in summarizing data and how correlation matrices can reveal connections between variables. Now, we’ll advance to the next stage: analyzing sample data to understand the broader population. This is where inferential statistics come into play, allowing us to make forecasts, test theories, and draw significant […]

Customer Lifetime Value (CLV) is a crucial metric for understanding your customer base and their value to your business. It plays a significant role in developing personalized strategies that focus on maximizing value by identifying and investing in high-CLV customers. Pioneers like Peter Fader and Dan McCarthy have demonstrated the power of prioritizing customer value […]

Today’s analysts have access to tools and platforms enabling faster, more efficient data analysis than ever before. However, this increased speed brings a heightened risk: the potential for errors to be magnified. The primary challenge for analysts isn’t merely swift data analysis — it’s conducting accurate, unbiased analysis at speed. Biases can creep into our […]

In the rapidly evolving world of data analytics, achieving success as an analyst requires a delicate balance between creativity and precision – the “art” and “science” of analysis. While technology has revolutionized what can be achieved, the fundamental qualities that make an analyst exceptional have remained unchanged: curiosity, optimism, and audacity. But what does this […]

Today, we’re addressing a question many analysts face: When is it time to shift from Excel to R for data analysis? Without doubt, Excel (and any other spreadsheet tools like Google Sheets) is a user-friendly and adaptable tool that is ideal for the majority of data analysis tasks. However, as the complexity of your analysis […]