Probability and Proportion are not the same. Although they appear to be the same however there is a very thin line between these two concepts. Let me explain! Probability vs Proportion What is probability? Wikipedia definition “Numerical descriptions of how likely an event is to occur or how likely the proportion is ture” Simply put, it’s a way of measuring an expected outcome...
Very often we use Best-case and Worst-case scenarios to explain uncertainty. If you are into Sales or Revenue forecasting then you should be familiar with these terms. To understand further you can read the scenario planning article here. In this tutorial, I’ll show you how to create a nice little Best case and Worst case chart in excel to explain the underlying uncertainty. Excel chart for...
Very often, you will have to construct an excel SUMIFS formula with multiple criteria based on the same column values. Which is equivalent to the SUMIFS formula with multiple OR conditions. I guess you may have tried it…but find it difficult to achieve. Because the Excel SUMIFS formula does not have any such option. So let me explain how to achieve this using a few tricks. Excel SUMIFS with...
I went from being a bad excel user to a professional after learning these excel tips and tricks. The good news is I’m going to teach you these tips using simple and real-life examples. There has been so much written about the best excel tips and tricks on the internet, I could literally find 2,23,000 exact matches by the time of writing this article. So, I don’t want to write one more...
If you are an aspiring Data Scientist then the Pandas pivot table is one of the primary tools that you must learn. We all know how to use the excel pivot table. In fact, there are many use cases from summarizing data to performing calculations. But as you know excel pivot table is based on a Graphical User Interface (GUI) so it’s relatively easy to learn and apply. On the contrary Pandas...