Research Tips

Regression Analysis

Regression analysis may seem like a distant memory from some long-forgotten statistics course for many people, but that’s unfortunate because it’s a very useful tool for analyzing marketing data and for forecasting. Regression analysis can be used to predict or explain the value of one quantitative variable (such as sales) based on the value of another variable (such as advertising expenditures). It can also predict or explain the value of a quantitative variable (such as sales) based on the value of more than one other variable (e.g., advertising expenditures, price, and product quality), and determine which of those other variables has the strongest influence on the variable being predicted.