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Saturday, April 08, 2017

An Accessible Look at Logistic Regression

Logisitic regression is probably the most common analytic method used in industries I have spend the most time in. Like retail and marketing.  Here a very good, largely non-technical description of how it works,  and what you would use it for.  In AnalyticBridge: 

Making data science accessible – Logistic Regression
Posted by Dan Kellett  
What is Logistic Regression?

Regression is a modelling technique for predicting the values of an outcome variable from one or more explanatory variables. Logistic Regression is a specific approach for describing a binary outcome variable (for example yes/no). Let’s assume you are own a new boutique shop. You have a list of potential clients you are thinking of inviting to a special event with the aim of maximizing the number of sales – who should you invite? Data on previous events you have run is a great starting point here, allowing you to predict an individual’s likelihood of buying given the information you have on them.  ... " 

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