We have specific knowledge and expertise to carry out 8 different techniques for data analysis:
1 Regression
Analysis - It’s the method for determining
the relationship between a dependent variable and one or
more independent variables. It is highly useful in finding
the correlation between one of your expenditure, say, email
marketing expenditure, and other promotional expenditure.
2 Cluster Analysis -- A technique for grouping similarities
or differences between a set of objects or persons. For
instance, by forming homogeneous groups of cases or variables
you can determine which specific segment of your target
audience you would wish to target your promotional activities.
3 Conjoint Analysis - It’s a multivariate statistical
technique to analyze preferences for various combinations
of attributes of a product or service. For instance, if
you want to find out whether your target customer finds
a feature of your product, say a camera on a mobile phone,
useful or not. It also gives data as to the extent of usefulness
of the feature.
4 Discriminate Analysis - If you have two naturally occurring
groups, you can use discriminate analysis to determine which
variable discriminate between the two groups. It could be
used to determine which variable(s) are the best predictors
of repeat customers' subsequent buying choice.
5 ANOVA -- Stands for Analysis of Variables. It’s
a series of mathematical procedures used to examine differences
in means and for partitioning discrepancies. The most common
application for an ANOVA Analysis Survey is testing. For
instance, it can be used in email copy testing in the real
world or simulated lab-type environments.
6 Factor Analysis -- a statistical method that reduces
large sets of data to the smallest number of ‘factors’
required to ‘explain’ the pattern of relationships
in the data. For instance, factor analysis can be used to
understand why customers are buying a certain product and
what motivates their buying decisions.
7 Neural Network -- A modeling technique consisting of a
set of elements that start out connected in a random pattern.
Following operational feedback, they are molded into the
pattern required to generate the required results.
|
