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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)…

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…

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…

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…

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…

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…

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…

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….

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…

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…

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…

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…

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….

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…

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…

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…

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…

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…