A selection bias is the term used to describe the situation where an analysis has been conducted among a subset of the data (a sample)…

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A distance matrix is a table that shows the distance between pairs of objects. For example, in the table below we can see a distance…

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Raw data typically refers to tables of data where each row contains an observation and each column represents a variable that describes some property of…

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A p–value is quantitative summary of the evidence in favor or against a hypothesis of interest. It is computed using a statistical test. It is…

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The strengths of hierarchical clustering are that it is easy to understand and easy to do. The weaknesses are that it rarely provides the best…

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Market segmentation typically involves forming groups of similar people. The characteristics of people that are used to determine if the people are similar are called…

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When you have a series of numbers, and there is a pattern such that values in the series can be predicted based on preceding values…

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The market research process consists of five steps: formulation of the research question(s), designing a research methodology, data collection, analysis, and communication of the findings….

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Most of the widely used cluster analysis algorithms can be highly misleading or can simply fail when most or all the observations have some missing…

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The variance inflation factor (VIF) quantifies the extent of correlation between one predictor and the other predictors in a model. It is used for diagnosing…

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Linear regression quantifies the relationship between one or more predictor variables and one outcome variable. For example, linear regression can be used to quantify the…

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Latent class analysis, which is also known as finite mixture modeling, requires the analyst to specify the number of classes prior to the application of…

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A practical challenge when working out how to segment is that there are usually lots of possible variables, and you need to reduce that number….

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Golden questions are questions used to allocate people to segments. They are also known as self-selection questions. The main applications of golden questions are: As…

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You can easily extract data from Salesforce.com using Displayr and the Salesforce.com API’s. In this post, we show you how to generate a Security Token…

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Cluster analysis refers to algorithms that group similar objects into groups called clusters. The endpoint of cluster analysis is a set of clusters, where each…

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Driver analysis, which is also known as key driver analysis, importance analysis, and relative importance analysis, quantifies the importance of a series of predictor variables…

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Shapley Value regression is a technique for working out the relative importance of predictor variables in linear regression. Its principal application is to resolve a…

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