News / Blog: #glossary

What is an algorithm?

An algorithm is a step-by-step procedure used to solve specific tasks. An algorithm is a set of well-defined instructions involving a series of steps that must be followed to solve a particular problem. Algorithms can be used in any field where computers are used, from mathematics to artificial intelligence.

What is linear regression?

Linear regression is a simple model of statistical analysis used to predict values by establishing a linear relationship between one variable (dependent) and several other variables (independent). It involves fitting a linear equation to the observed data points to minimize the least square deviation between the observed data points and the fitted linear function.

What is factor analysis?

Factor analysis is a statistical technique used to examine the structure of a data set. It is used to reduce the variables in a data set by grouping similar variables together to create a single variable called a factor. This allows for a better understanding of the relationships between variables. It can also be used to determine which variables contribute most to a particular outcome.

What is logistic regression?

Logistic regression is a type of statistical modeling used to predict a binary output of an event. It is commonly used in areas such as disease risk prediction, customer satisfaction, and advertising. It is a type of regression analysis that predicts a binary outcome from a set of variables. It is typically used to determine whether or not an event will occur based on a number of influencing factors.

What is a panel study?

A panel study is a method of empirical social research in which the same group of people is interviewed several times over a period of time. With a panel study, researchers can observe how certain people and their attitudes and behaviors change over time.