Adjective describing a methodology or approach that focuses on the analysis and interpretation of outliers—data points that deviate significantly from the overall pattern of a dataset. This concept is often utilized in statistics, data science, and research to identify anomalies and extract insights that may be obscured in aggregate data.
Outlier-based meaning with examples
- The research team employed an outlier-based approach to determine the underlying causes of the unusual spike in sales during the last quarter, allowing them to tailor their marketing strategies effectively.
- In their latest statistical analysis, the scientists highlighted the importance of an outlier-based perspective, revealing critical data points that provided insight into potential environmental issues affecting the region.
- By adopting an outlier-based method, the financial analysts were able to spot irregular transactions that indicated possible fraud, which might have gone unnoticed in a traditional data analysis.
- The outlier-based framework in the study effectively illuminated consumer behavior trends, particularly how a small percentage of customers significantly contributed to overall revenue, leading to targeted retention strategies.