In this article, I would like to introduce you to the concept of elasticity. So, What is Elasticity? Elasticity is a measure of the degree to which one variable would be impacted as a result of change in the other variable. In MMM, if you have sales as a dependent variable, elasticity would be defined […]
Market Mix Modeling: 101 — Elasticity Read More »
Have you ever wondered what type of chocolates do customers prefer? Which flavour goes well with customers? Are customers price conscious, when it comes to buying chocolates? The answer lies not only in Consumer psychology but also in analytics. Consumer Psychology is a branch involved in studying consumer behaviour and the cognitive process behind how
Conjoint Analysis: 101 Read More »
Resume building is very tricky. A candidate has many dilemmas, · whether to state a project at length or just mention the bare minimum · whether to mention many skills or just mention his/her core competency skill · whether to mention many programming languages or just cite a few · whether to restrict the resume
Screening Data Science Resume using NLP Read More »
Many of us are bombarded with various recommendations in our day to day life, be it on e-commerce sites or social media sites. Some of the recommendations look relevant but some create range of emotions in people, varying from confusion to anger. There are basically two types of recommender systems, Content based and Collaborative filtering.
Recommender Engine – Under the hood Read More »
Many a blogs and articles are written on how to become a Data Scientist. The list normally goes like this · Study descriptive statistics, hypothesis testing, probability · Learn types of Machine learning algorithms — Supervised, Unsupervised · Learn Python, R, SAS, SQL · Apply machine learning techniques using Python, R, SAS · Learn Data Visualization While
Want To Become a Data Scientist? Read More »
Imagine you are a company selling a fast-moving consumer good in the market. Let’s assume that the customer would follow the below journey to make the final purchase: These are the states at which the customer would be at any point in the purchase journey. Now, how to find out at which state the customer
Marketing Analytics through Markov Chain Read More »
What is an Interaction Effect in Regression ? An interaction effect is the simultaneous effect of two or more independent variables on at least one dependent variable in which their joint effect is significantly greater (or significantly less) than the sum of the parts. It helps in understanding how two or more independent variables work in
Types of Interaction Effects in Market Mix Modeling (MMM) Read More »
How to host R shiny app R shiny app is an interactive web interface. R shiny app has two components user interface object (UI.R) and server function (Server .R). The two components are passed as arguments to the shiny app function that creates a shiny app object. For more info on how to build Shiny apps
How to host R shiny app Read More »
Introduction The objective of the exercise was to identify hostile topics emerging out of social media data. four Data sources were analysed for the given exercise: Facebook, Instagram, YouTube and Twitter. Topic Modeling and other Natural Language Processing algorithms were used to identify several topics from social media posts and comments, across different geographies for
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