Summary Management Assignment
Using the information from Units 1, 2, and 3, Big D Incorporated will be examining how multivariate techniques can serve the organization best and how they can be applied to its new client, the outdoor sporting goods customer. The Board of Directors has asked you to research and explain 3 major ways in which multivariate statistics are utilized in this scenario. In this case, be sure to justify your decision.
Research using the library and the Internet to find an example of how a real company has used each of the following multivariate techniques:
- Factor analysis
- Multidimensional scaling
- Cluster analysis
This can be considered a benchmark if you can justify how it could benefit Big D Incorporated.
Write a summary to upper management explaining the following: Summary Management Assignment
- How can each multivariate technique be utilized in Big D Incorporated, and what purpose would each serve?
- Which technique is your preferred method, and how is your chosen multivariate technique different from the other two techniques?
- What will the Board of Directors learn from your selected technique and more importantly, how will it contribute to the overall decision-making process? Ensure that your explanation is clear and concise.
Summary Management Assignment Part 2
Big D Incorporated is nearing completion of its portfolio of recommendations for the outdoor sporting goods company. There are a wide range of measures that could be of value to the Board of Directors to consider.
Think of each measure as being a paint stroke in a corporate picture. By itself, it may not have much value. However, when combined with others, a picture is formed. The more variables examined regression, the clearer the picture. For example, consumer age, income, gender, background, industry, and interests could provide guidance to the best marketing approach to take. Summary Management Assignment
Although past data are used to indicate the future, the social and economic impact of the coronavirus needs to be considered. What are the impacts to unemployment, income disruption, and recovery plan by each state? Summary Management Assignment
Clearly state variables that you would utilize in your path that you are recommending. Utilize a regression model to determine if the recommendation is to expand into the new market or to not expand. Ensure that you provide adequate justification for your recommendations. The Board of Directors requires your input based upon your previous exercises from Units 1, 2, and 3.
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