When answering this question, focus on a specific project where you successfully applied statistical analysis to address a business issue. Start by briefly describing the business problem and its significance. Then, explain the statistical methods and tools you used, such as regression analysis, hypothesis testing, or machine learning algorithms. Highlight the data sources and how you processed the data. Discuss the results and the impact of your analysis on the business decision-making process. For example:
"In my previous role, I worked on a project to improve customer retention rates. The business problem was that customer churn was higher than industry standards, affecting revenue. I used logistic regression to identify key factors contributing to churn. By analyzing customer demographics, purchase history, and engagement metrics, I was able to predict which customers were at risk of leaving. The insights from my analysis helped the marketing team develop targeted retention strategies, ultimately reducing churn by 15%."
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