Solution-Write a summary to upper management

Write a summary to upper management

Assignment Help Applied Statistics

Reference no: EM131624284

Understanding Business Drivers and Improving Business Forecasts

Project

Assignment Description

A high-end market research firm has contacted your boss and is trying to sell some business to your organization. Upper management does not want to appear incompetent, so they have asked you to research and explain three major ways multivariate statistics are used in a business.
Research the library to find at least one example of how a real company has used each of the following multivariate techniques: factor analysis, multidimensional scaling, and cluster analysis. NOTE: Companies that provide statistics software Web sites and market research firm Web sites usually include case studies and customer testimonials.

Write a summary to upper management explaining the following:

Your chosen multivariate technique

How your chosen multivariate technique is different from the other two techniques

How at least one other real-life company has used your chosen multivariate technique to address a business program

How your chosen multivariate technique might be used at your own organization.

Please add your file.

For assistance with your assignment, please use your text, Web resources, and all course materials.

Deliverable Length: Individual Portion: 1,000-2,500 words

Verified Expert

This assignment has given importance to the study of the business problem, analyzing the objective and understanding the concepts of multi-dimensional scaling, factor analysis and cluster analysis. Emphasis has been led on the features, advantages and disadvantages of these three techniques of the multivariate method. It was concluded that the business should adopt the multi-dimensional scaling as this is the best suitable as per the objective of the business research. The assignment has also discussed the real time business and the areas in which these techniques are utilized.

Reference no: EM131624284

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How at least one other real-life company has used your chosen multivariate technique to address a business program How your chosen multivariate technique might be used at your own organization. Please add your file. For assistance with your assignment, please use your text, Web resources, and all course materials. Write a summary to upper management explaining the following: Your chosen multivariate technique How your chosen multivariate technique is different from the other two techniques

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Write a summary to upper management

Reference no: EM131624284

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