Level: Intermediate to Advanced
In this hands-on class you will learn the fundamentals of applying logistic regression to business data using Excel. Logistic regression is the most common predictive model used to answer business questions like “how likely is a customer to churn?”
Excel provides all the functionality needed for crafting logistic regression models on par with models from programming languages like R and Python.
After learning about the types of business problems that might benefit from logistic regression analyses, we will teach you how logistic regression can answer interesting business questions such as:
- Given a customer’s behavior, how likely are they to convert to paying?
- What factors are most important in determining if a customer will churn?
- Does the interaction of certain product characteristics affect the likelihood of a warranty claim?
Whether you are an Excel-based analyst looking to improve your skills or a manager interested in understanding the logistic 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 type of business problems where logistic regression can be useful
- The basics of probabilities and odds ratios
- Templates that streamline logistic regression analyses in Excel
- Using Excel’s Solver to train simple logistic regression models
- Using Excel’s Solver to train multiple logistic regression models
- Interpreting logistic regression models in terms of business drivers
- Evaluating the effectiveness of your logistic regression models
- How to communicate your insights effectively
- Additional resources to extend your learning
- Business/data analysts
- Database developers
- BI/report developers
- Anyone interested in using logistic regression for analyzing business data
No skills in programming or statistics are required.
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
TDWI LIVE STUDIO AUDIENCE:
This session will be recorded for development of an online learning course which will subsequently be available for purchase directly or via subscription. By attending, you agree that your likeness may appear in the online course, including audio and video.