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| BUSINESS UNITS:
DATA ANALYSIS |
Data collection for operating units is quite valuable to the safe
and economic operation of any plant. Collection and storage
capacities have greatly improved over the years but the utilization
of the available data has not kept pace.
We have the knowledge and tools to provide data analysis not geared
particularly towards modeling. Anytime there is a need to
understand what’s in your data, we will be glad to explore the data
to come out with a deep understanding of its correlations. |
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| Correlation is a statistical
technique which can show whether and how strongly pairs of variables
are related. For example, height and weight are related - taller
people tend to be heavier than shorter people. The relationship
isn't perfect. People of the same height vary in weight, and you can
easily think of two people you know where the shorter one is heavier
than the taller one. Nonetheless, the average weight of people 5'5''
is less than the average weight of people 5'6'', and their average
weight is less than that of people 5'7'', etc. Correlation can tell
you just how much of the variation in peoples' weights is related to
their heights. |
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Although this correlation is fairly
obvious your data may contain unsuspected correlations. You may also
suspect there are correlations, but don't know which are the
strongest. An intelligent correlation analysis can lead to a greater
understanding of your data.
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| Like all statistical techniques,
correlation is only appropriate for certain kinds of data.
Correlation works for data in which numbers are meaningful, usually
quantities of some sort. It cannot be used for purely categorical
data, such as gender, brands purchased or favorite color. |
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