Applied Managerial Decision Making

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A high-end market research firm has contacted your boss and is trying to sell some business to your organization. Upper management does not want to appear incompetent, so they have asked you to research and explain three major ways multivariate statistics are used in a business.

Small Group Discussion

Research the library, and provide at least 1 example of how a real company has used each of the : factor analysis, multidimensional scaling, and cluster analysis. Companies that provide statistics software Web sites and market research firm Web sites usually include case studies and customer testimonials.

Read the postings of all group members, and decide as a group which technique is preferred by the group and which the use of this technique.

Use the for your comments.

Individual Portion

For the individual portion of this project, on your own, write a summary of 1,5003,000 words explaining to upper management the , how it is different from the other 2 techniques, how at least 1 other has used this technique to address a business problem, and how that technique might be used at your own organization.

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