Create Calculated Columns in Your Dataset

Question 1

Create calculated columns

Answer 1

To extract more useful information, such as a ratio or aggregation

A calculated column uses a formula to derive its value from other data

Question 2

Types of Calculated Columns

Answer 2

• Aggregations
• Ratios
• Transformations

Question 3

Aggregations

Answer 3

Mean (average), most recent, minimum, maximum, sum, multiplying two variables together, ratios made by dividing one variable by another

Question 4

Ratios

Answer 4

Can communicate more complex concepts

Ex: price-to-earnings ratio, where price or earnings alone cannot deliver the same insight

Question 5

Transformations

Answer 5

Replacement of a variable by a function

Change the scale of a variable or standardize the values for better understanding

Can also be done using categories or bins to create variables