Write short notes on regression modeling.

Regression Modeling :-

• Regression models are widely used in analytics, in general being among the most easy to understand and interpret type of analytics techniques.

• Regression techniques allow the identification and estimation of possible relationships between a pattern or variable of interest, and factors that influence that pattern.

• For example, a company may be interested in understanding the effectiveness of its marketing strategies.

• A regression model can be used to understand and quantify which of its marketing activities actually drive sales, and to what extent.

• Regression models are built to understand historical data and relationships to assess effectiveness, as in the marketing effectiveness models.

• Regression techniques are used across a range of industries, including financial services, retail, telecom, pharmaceuticals, and medicine.