High dimensional data analysis

What it covers

In many fields of business, analysts must deal with data on many variables, for example, surveys with a large number of questions. In such cases, statistical tools known as multivariate methods must be used to analyse the data and drive business decisions. This unit covers such methods in three sections: Cluster Analysis can be used to identify and predict differences between groups such as between distinct classes of customers or products; Principal Components Analysis, Correspondence Analysis and Multidimensional Scaling are dimension reduction methods that help analysts to visualise complicated datasets; and finally, Factor Analysis is used to explain and predict business outcomes.

Assessment

When and where