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Using Excel to Solve Business Problems - AI Applications

Curtis Seare Copyright: Vault Analytics July 2010 Using Excel to Solve Business Problems : Simple Predictive Analytics 2 | Page Contents Section I: Background Information Why use Predictive Analytics? How to use this Guide Analysis Fundamentals Method for Creating Predictive Models Section II: Predictive Models How to Choose an Appropriate Model Regression Correlation Linear Regression Multivariate Exponential Regression Logarithmic Regression Polynomial Regression Time Series Logistic Regression ANOVA t-Test 1 Way ANOVA 2 Way ANOVA Chi-Square 3 | Page Why Use Predictive Analytics? Strategy Development Predictive analytics is an indispensible tool for strategy development. In any good strategy, there are three elements: a set of assumptions, a set of actions that need to be taken, and a set of desired outcomes. The outcomes are achieved as a result of the actions being executed and the assumptions being true.

Preparing to Use Excel 2007 Excel 2007 is used in the specific ‘How To’ sections, as it is the most ubiquitous piece of software with statistical capabilities.

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