Learn if statistical outliers found using the 1.5(IQR) Outlier Rule skew your data forecast, predictive modeling, key performance indicator (KPI) reporting, or scenario analysis? Buy and download this template to transform your data and learn if you can keep statistical outliers in your dataset. Run this process to create four new columns of data - each with a box & whisker plot - to show you how transforming your data using the following statistical formulas can help you keep statistical outliers in your analysis:
- LOG
- POWER
- SQUARE ROOT
Do the 1.5(IQR) Outlier Tutorial to learn how the 1.5(IQR) Outlier Analysis Rule works and how you can use it to improve the accuracy of your financial ratio analysis. The tutorial guides you through 16 steps to find statistical outliers in your ratios data. At each step, you are given specific explanations to understand the outlier identification process. Use the 1.5(IQR) Outlier AddIn, and you receive custom messages that pop-up on screen to further explain and interpret ratio analysis results at each step in the tutorial. The end of the tutorial talks about different options for doing Post Outlier Analysis: Forecasting Before and After Statistical Outliers Replaced.
