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Statistics

Linear Regression vs Logistic Regression vs Poisson Regression

Linear Regression vs Logistic Regression vs Poisson Regression

Generalized Linear Models (GLMs) extend the ordinary Linear Regression and allow the response variable y to have an error distribution other than the normal distribution. GLMs are great because: They are easy to understand. Most statistical packages contain functions to fit and interpret the resulting model. Linear regression or logistic regression is sufficient for a lot […]

impulse response function

Modelling responses to market shocks

One of the frequently asked questions by marketers is what shall we expect from any market turbulences. This can be an increase in competitors’ spend on advertising, beginning of pricing war or any outlier of current market conditions. Let us address this issue on an example of a competitors high discount price using impulse response […]

(Stats by lendingmemo.com)

10 FREE Resources to Learn Statistics

Learning statistics is a very important step on the path to becoming a data scientist. It is not an easy subject and many people are often off-put by the complex and convoluted explanations. Luckily, more and more easy to digest tutorials, ebooks and courses become available on the internet. Here is a small selection to […]

Cut through the customer base: a simple example on who to target

Cut through the customer base: a simple example on who to target

While positioning the brand in the market, the most important question to ask is who we want to communicate with. With a poor understanding of the customer base this might result in gently saying ‘not so outstanding’ results. If your customers are posh yuppies and you start going for a TV ad with how pricy […]