Sign In
Not register? Register Now!
Essay Available:
You are here: HomeEssayManagement
2 pages/≈550 words
4 Sources
English (U.K.)
MS Word
Total cost:
$ 9.36

Understanding Business Drivers and Improving Business Forecasts (Essay Sample)


DescriptionUsing 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: 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.


Understanding Business Drivers and Improving Business Forecasts
Student’s Name
Institutional Affiliation
Understanding Business Drivers and Improving Business Forecasts
The dynamism in the contemporary business environment has compelled many organizations to integrate statistical techniques to have a more explicit understanding of the extracted data market. Multivariate analysis techniques are equally important in providing necessary information considering that they facilitate consumer and market analysis, process optimization and control, quality control and assurance, and research and development (Shiker, 2012). Multivariate statistics are keen on examining the simultaneous impact of multiple variables (Kirch, 2008). Some of the most popular multivariate analysis techniques include but are not limited to factor analysis, multidimensional scaling, and cluster analysis. These techniques could come in handy as Big D Incorporated endears to impress its most recent client. This outdoor sporting goods customer is keen to expand its revenue base through exceptional market research. To this end, the cluster analysis appears to be the most beneficial technique as it groups its clients appropriately and can gather conclusive yet essential market information.

Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Impact of Organizational Culture on Employees’ Performance
    Description: The term organizational culture refers to a set of important, usually unexpressed assumptions in an organization that members of the organization share in common (Khalifa et al., 2017). They further claim that organizational culture is a "collection of values and norms that are shared by people and groups...
    6 pages/≈1650 words| 15 Sources | APA | Management | Essay |
  • Factors that influencing professional satisfaction as a teacher.
    Description: As a teacher there are both negative and positive factors that influence professional satisfaction. Teachers require good work environment so that they get teaching satisfaction....
    4 pages/≈1100 words| 4 Sources | APA | Management | Essay |
  • Organizational Power Management Essay Research Paper
    Description: While some challenges in an organization may be solved through reward systems and sociotechnical systems, others may be solved through the distribution of authority as well as setting a stage that allows for the exercise of power....
    2 pages/≈550 words| 4 Sources | APA | Management | Essay |
Need a Custom Essay Written?
First time 15% Discount!