What is GLM/Regression?

GLM/Regression refers to Generalized Linear Models and Regression analysis techniques. These statistical methods are used to model the relationship between a dependent variable and one or more independent variables. GLMs extend linear regression to accommodate non-normal response variables (e.g., binary, count data) by using a link function and an exponential family distribution. Regression analysis, more broadly, aims to predict the value of a dependent variable based on the values of independent variables, allowing for understanding of variable relationships and making predictions. Common applications include prediction, forecasting, and identifying significant factors influencing a specific outcome.