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Regression is one of the most commonly used analytical methods marketers use to predict future marketing outcomes from patterns in the past. By using regression, marketers predict future sales from online review ratings or other variables that are related to sales. For example, Walmart uses daily temperature to predict blueberry sales. Every morning, marketers check the weather, and they can predict how many blueberries will be sold by the evening. Understanding how regression works is important.
Download attached document with data to generate a regression plot based on sales (Y-axis) and social media spending (X-axis). You can use Excel, Word, or Painter.
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