Ans: Regression is used in the business primary for 5 purposes:[Image will be Uploaded Soon]Predictive analysis - One of the most important applications of regression analysis is to forecast risks and future opportunities in business. For example, demand analysis can predict the number of items that a consumer is likely to repurchase.Operation Efficiency - You can optimize your business processes using regression techniques. For example, a factory manager can build a statistical model based on the shelf life of cookies and the oven temperature they are baked in.Decision supporting - There is an overload of data in businesses ranging from finances, customer purchases, operations, and so on. Regression analysis is bringing a scientific approach to reduce raw data into meaningful information that managers can use for an informed decision.Error correction - Sometimes, one can make intuitive choices that might result in errors. For example, a manager might think that extending working hours may increase sales and revenue. But regression analysis might show otherwise. The operating expenses to work longer hours might not justify the increase in sales. So, you can avoid such errors with efficient regression analysis.Gain new insights - Businesses have an accumulation of a massive volume of unorganized data right now. This data is capable of giving new insights if a proper regression analysis technique is employed.