Level: Beginner to Intermediate
In this hands-on class, you will learn the fundamentals of applying linear regression to business data using Excel. In survey after survey, data professionals report linear regression is their go-to method for understanding and optimizing the business.
Using Excel’s out-of-the-box functionality makes linear regression analysis fun and easy—we promise!
After learning about the types of business problems that might benefit from linear regression analysis, we will teach you to use linear regression to answer interesting business questions such as:
- If we spend more money here, how much uplift in the business should we expect?
- What factors are most important in determining price/demand/supply?
- Does the interaction of certain product features have a disproportionate effect?
- Can we accurately predict future business performance?
Whether you are an Excel-based analyst looking to improve your skills or a manager interested in understanding the linear regression models produced by analytics teams, this is the class for you.
Want to know the best part? No programming or difficult mathematics are required!
You Will Learn
- The types of business problems where linear regression can be useful
- Why the arithmetic mean (a.k.a., the average) is a predictive model
- How simple linear regression improves upon the arithmetic mean
- How to use Excel to train simple linear regression models
- Ways to use Excel to train multiple linear regression models
- How to interpret linear regression models in terms of business drivers
- Ways to evaluate the effectiveness of your linear regression models
- How to communicate your insights effectively
- Additional resources to extend your learning
- Business/data analysts
- Database developers
- BI/report developers
- Anyone else interested in using linear regression for analyzing business data
In this session, the instructor will teach you principles and practices, show you how to use the tools, and demonstrate with live examples. You will receive installation instructions and take-home workshop materials to complete hands-on exercises on your own, after the live session.
Completion of take-home workshop exercises will require Microsoft Excel 2016 or later