Advanced Analytics

Correlation Analysis

At Research2Systems, Correlation Analysis proves to be an immaculate method that is expressed by correlation coefficients and helps in evaluating the degree of linear relationship between two variables.

Under this technique, the correlation coefficient may take on any value between + 1 and - 1. Based on the sign of the correlation coefficient (+, -) the direction of the relationship can be assessed. The + sign denotes a positive relation of correlation and the – sign denotes a negative relation of correlation.

When we find out that a particular set of variables have a positive correlation coefficient, it gives us the implication that as & when the value of one variable will increase, the value of the other variable wil also increase. Similarly, as & when the value decreases for one variable, it will lead to a decrease in the value of other variable as well.

Correspondingly, a negative correlation coefficient specifies that as & when a particular variable increases, the other one decreases, and vice-versa.

This superb and exceedingly constructive technique of Correlation Analysis is most commonly used for gauging the levels of customer satisfaction and employee satisfaction giving you the clarification that you require about your company’s offerings.

Contact us today and find out how Correlation Analysis can assist your business to reach to the apex.