A retail company has collected sales data from several stores over the last year. They want to identify if there's any relationship between the amount of advertising spent and the sales figures. Which process helps them discover this relationship?
Data correlation is a process used to determine the relationship between two variables. In this case, it helps the retail company find any connection between advertising expenditure and sales figures. This differs from other methods like data collection or data storage, which are critical steps but do not specifically address finding relationships between variables.
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What is data correlation?
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How can one interpret correlation results?
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What other methods can be used in data analysis besides correlation?