Why different techniques in each of the modelling area?
Ans. Like statistical analysis is very broad and includes large number of techniques and each technique has specific application and applied to a particular situation. Theoretical knowledge of each technique(s) to be applied for a particular situation is to be known in advance? Like regression is a specific application in the statistical area and could be applied to build a relationship model between dependent and independent variables. Likewise there are number of techniques which falls into the area of statistical analysis and similarly the situation is in other areas, such as linear and non-linear optimization using operational research optimization techniques. Theoretical in-depth knowledge is a must for the development of system based on modelling technique(s).
