Differentiate between univariate, bivariate, and multivariate analysis.
Univariate analysis:- provides summary statistics for each field in the raw data set (or) summary only on one variable. Ex :- CDF,PDF,Box plot, Violin plot.
Bivariate analysis:- is performed to find the relationship between each variable in the dataset and the target variable of interest (or) using 2 variables and finding realtionship between them. Ex :-Box plot,Voilin plot.
Multivariate analysis:- is performed to understand interactions between different fields in the dataset (or) finding interactions between variables more than 2. Ex :- Pair plot and 3D scatter plot.
Univariate analyses are descriptive statistical analysis techniques which can be differentiated based on the number of variables involved at a given point of time. For example, the pie charts of sales based on territory involve only one variable and can the analysis can be referred to as univariate analysis.
Bivariate analysis attempts to understand the difference between two variables at a time as in a scatterplot. For example, analyzing the volume of sale and spending can be considered as an example of bivariate analysis.
Multivariate analysis deals with the study of more than two variables to understand the effect of variables on the responses.