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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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