Calculate Weight of Evidence (WOE) and Information Value (IV) between a single predictor and a single outcome variable.

Calculates Weight of Evidence (WOE) and Information Value (IV) between a single predictor and a single outcome variable. This function implements the common Information Value calculations whilst maintaining the minimum reliance on external dependencies. Use map_IV() for the equivalent of Information::create_infotables(), which performs calculations for multiple predictors and a single outcome variable.

calculate_IV(data, outcome, predictor, bins)

Arguments

data

Data frame containing the data.

outcome

String containing the name of the outcome variable.

predictor

String containing the name of the predictor variable.

bins

Numeric value representing the number of bins to use.

Value

A data frame is returned as an output.

Details

The approach used mirrors the one used in Information::create_infotables().