Understanding Business Drivers and Improving Business Forecasts GP 4

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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.

Small Group DiscussionResearch the Library and provide at least 1 example of how a real company has used each of the following multivariate techniques: factor analysis, multi-dimensional scaling, and cluster analysis. Companies that provide statistics software websites and market research firm websites usually include case studies and customer testimonials.

Read the postings of all group members and decide as a group which technique is preferred by the group and which example best illustrates the use of this technique.

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