Calculating Correlations and R Squared Values with Alteryx

I’ve been busy on a bunch of big projects lately as you can probably tell by my neglected blog.  Today I tried a new tool and thought I’d share how it works and how it can be improved on using a batch macro.  My goal was to compute a bunch of correlation factors using Alteryx.  Below is a sample of my data:

As you can see, each product has five weeks of data.  I wanted to correlate each of my five factor columns to the Dollar Share column to see which factor was most predictive of the dollar share.  The goal was to return the R Squared value of each correlation just as you could easily do in Excel using the RSQR() function.  The R Squared function in Excel is built on the Pearson Product Moment Correlation function.   I found the Pearson Correlation tool in the Data Investigation tab in Alteryx.  Once that was dropped into the workflow, I selected which variables I wanted to compute a correlation.

Continue reading “Calculating Correlations and R Squared Values with Alteryx”