Regressional analysis

Regression analysis is a statistical method used to understand how one or more factors (independent variables) influence a specific outcome (dependent variable). For example, it can help determine how factors like advertising spend and price affect sales. By analyzing data, regression identifies the strength and nature of these relationships, allowing businesses to make informed decisions. Essentially, it helps predict the value of the outcome based on changes in related factors, providing insights into what drives results and how different variables interact.