Competitive Advantage Competitive advantage is whatever you can do better than the competition that will attract customers to your business so it can succeed. Here are some useful competitive advantage check lists: 6 factors of competitive advantage Porter’s 4 generic strategies competitive advantage list 6 factors of competitive advantage Competitive advantage comes from one, or […]
Support vector machines explained Support vector machines in simple terms are a form of machine learning classification that uses a line that marks the boundary between the classes of the data points. The boundary, called the decision boundary, perfectly splits the area between the closest data points of the classes. The closest data points from
Home > business innovation > business model canvas What is a Business Model Canvas? A business model canvas is a visual tool that helps plan for a business. It has nine parts and can be used to model any business, big or small. The nine parts are as follows: customer segments value proposition channels customer
The Basics of Statistics During your time as a student you will need to analyze and present data and therefore need to understand the basics of statistics. In this article we present statistics for university students, statistics that any student may need during their studies. These are the simple statistics that you are required to
What is data analysis in simple terms? Data analysis in simple terms is the application of a series of techniques to evaluate data. In the analysis of data it is valuable to find patterns, relationships and trends that gain insight and potentially be used to improve decision making for example. Data Analysis Process We can
What is big data in simple terms? V’s in Big Data Types (structures) of Big Data Big Data Professionals What is big data in simple terms? Big data in simple terms is data that is too large or too complex to be handled by traditional data management tools like databases. Big data includes data that
What is machine learning in simple terms? Machine learning in simple terms is a way of creating a model out of data and using this model to either gain insights from patterns in the data or predict values using the model. The data must be in numeric form and the model is created using desired
What is linear regression in simple terms? Linear regression in simple terms is a supervised learning algorithm that uses the relationship between data points to form a best fit line called a regression line. If there is a strong relationship in the data then the regression line is used to calculate the value of a
