In marketing, the regression analysis is used to predict how the relationship between two variables, such as advertising and sales, can develop over time. Business managers can draw the regression line with data (cases) derived from historical sales data available to them.
The purpose of regression analysis is to describe, predict and control the relationship between at least two variables. The basic principle is to minimise the distance between the actual data and the perditions of the regression line. Regression analysis is used for variations in market share, sales and brand preference and this is normally done using variables such as advertising, price, distribution and quality.
Data Analysis & Report Writing
There are a variety of specific data analysis method, some of which include are:-