Introduction to Descriptive Statistics
Descriptive statistics provide functions to statistically analyze and explore a data residing
on Vantage. Descriptive statistical analysis is valuable for the following reasons:
* It provides business insight.
* It uncovers data quality issues, which, if not corrected or compensated for, jeopardize
the accuracy of analytic models based on the data.
* It isolates the data used in building analytic models. For example, when an outlying
value is identified, you can include or exclude that value depending on a business problem.
* Statistical processes used in analytic modeling require a certain type of data
distribution. Descriptive statistical analysis help determine the suitability of various
data elements for model input and suggest transformations that may be required.