First I will start with the theory stuff which has become an important part of our life. Right from graduation to post graduation, theory is the way to go without even understanding its application in real world
So what Discriminant analysis is all about?
Discriminant analysis, or Discriminant function analysis, is a type of regression that focuses on membership in a naturally occurring group and the related predictor variable. It is a type of classification procedure that analyzes the individual characteristics of individual data points to determine which group the data points likely belong to. We must analyze a data set of known group membership before applying it to data set of unknown group membership.
We can use this tool in various situations such as
• How singles and married people differ?
• To predict which companies may go bankrupt based on financial variables. The classes being those who go bankrupt and those who don't.
• Facial recognition.
• Users and non users of a product.
But I have thought of two situations where we can also use them and it would be fun seeing the results.
When today I worked on this tool I wondered it should have been taught to us after 12th standard at least to guys who wanted to pursue engineering. It could have been an important tool, as at that point of time we could use it to examine students who successfully complete their engineering degrees versus those who do not with different variables. Analysis could have been used to determine which variable, or combination of variables, predict whether a given student will successfully complete her engineering degree on time with two cases taken as students who complete on time and students who don’t.
This analysis can also be applied to sports and being a true Indian the first sports that comes to my mind is cricket and the first sportsperson for whom the accuracy can be 100% is Sachin Tendulkar followed by Rahul Dravid. So by making two groups like Sachin and Rest of the Others we can apply this with variables such as technique, style, balance, statistic, composure and experience.
Name : Vivek Dhar
Group : Marketing 6