Wednesday, 7 September 2011

FINAL BLOG - A Summary

Being our final day and lecture of Business analytics, we were summarized upon the learning of all the 24 sessions took place. We started with general use of SPSS software, later in to details of the same.

The later part consists of K-Means, Discrminant Analysis, Factorial Analysis, PerMap or perceptual Mapping, Bubbles graph, chart graph and at last conjoint analysis.

K- Means clustering is an excellent technique for clustering points when the number of clusters is known. We present an implementation of the algorithm. We also implement the k-Means intialisation method which finds the global optimum much more frequently than a random initialization.

Discriminant analysis attempts to identify which variables or combinations of variables accurately discriminate between groups or categories by means of a scatter diagram or classification table.

How it is being used by people: Discriminant analysis has applications in finance, for example, credit risk analysis, or in the prediction of company failure (in bankruptcy prediction), and in the field of marketing, for market segmentation purposes.

Conjoint analysis takes the attributes and level description of product/ services and uses them in

Interviews by asking people to make a number of choices between different products.

Siddhartha Khandelwal

Finance Grp 6

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