News / Blog: #glossary

What is a correlation?

A correlation is a mathematical relationship between two variables that reflects the changes between the variables. A correlation can be positive or negative. A positive correlation means that when one variable increases, the other variable also increases and vice versa. A negative correlation means that when one variable increases, the other variable decreases and vice versa.

What is a significant correlation?

A significant relationship is a statistically measurable relationship between two or more variables, the result of which is statistically significant. This means that the relationship between the variables is more than just coincidental and that it really exists. A significant relationship means that a change in one variable is associated with a change in the other variable.

What is a trend?

A trend is a general direction or development that is developing in a particular area or industry. Trends can relate to many areas, including fashion, technology, business, culture, media and more. Trends can develop over a period of time or come and go quickly.

What is a hypothesis test?

A hypothesis test is a statistical test used to determine whether a particular hypothesis is true or false. It is a procedure for testing hypotheses to see whether or not they can be supported by data. Usually, hypothesis tests are used to determine the probability that a certain outcome will occur.

What is regression analysis?

Regression analysis is a mathematical technique used to predict future outcomes and determine the relationships between different variables. It can be used to predict the effect of a particular influencing factor on another variable or to determine which variables contribute most strongly to a particular metric. Applications of regression analysis include predicting sales volumes, determining prices, and determining credit risk.