Advanced Statistical Techniques

The growth in integrated solutions and DIY platforms means that advanced statistical techniques (such as cluster analysis and conjoint analysis) are available to an ever-increasing number of market researchers and insight professionals. However, access to the tools does not automatically convey the knowledge about how to choose and deploy an appropriate technique. This course provides an overview of the tools and techniques and a non-technical introduction to many of them.

Who will find it useful

The course is designed for people looking for an overview of advanced statistical techniques, such as Factor Analysis, Cluster Analysis, Correspondence Analysis, Regression Analysis, and Conjoint Analysis. Typical participants include those commissioning research, researchers wishing to broaden their role, and those considering specialising in advanced quantitative techniques.

Objectives

The course aims to fulfil the same role that a map performs for an explorer – it describes the terrain, highlights hazards and gives guidance on the best routes. The course outlines a range of advanced techniques, discusses which business questions they address, shows what sorts of data are required, and highlights their strengths and weaknesses.

Learning Outcomes

• Understand the difference between dependence techniques (e.g. regression) and interdependence techniques (e.g. factor analysis).
• Learn how to map techniques to specific business/research needs/questions.
• Appreciate the strengths, weaknesses, and requirements of the key advanced statistical techniques.

Content

The techniques covered in the course include: Factor Analysis, Cluster Analysis, Correspondence Analysis, Regression Analysis, Conjoint Analysis and MaxDiff. Other techniques that are mentioned and placed in the wider context include TURF Analysis, Price Sensitivity Meter, Structural Equation Modelling, Logistic Regression and Machine Learning.

Textbook

Participants will receive a copy of “Analytics For Customer Insights: A Non-Technical Introduction”, author Chuck Chakrapani, published 2018.

Trainer

Ray Poynter