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You’ve heard the terms “factor analysis” and “cluster analysis”; now it’s time to put these statistical workhorses to use. While they are different, both factor and cluster have the same primary purpose: to reduce the amount of data while remaining true to the original results. Thus, they are often referred to as “data reduction” techniques.
In survey research, factor analysis and cluster analysis are often used in tandem.
In this class, Instructor Julie Worwa will guide market researchers who plan to use these techniques on when to use them, how to work with a data analyst (who may be assisting you with the actual statistical analysis), and how to report the results.
We also cover common applications, including market segmentation and customer satisfaction research.
Instructor Worwa also leads the students through an interactive exercise that aids the retention of key lessons.