Avoid the follies and fallacies of factor analysis and multiple regression analysis. Targeted to applied marketing researchers, this session translates statistical jargon into layman’s language and uses a real world example to help you use these methods correctly. After each concept is covered, we will discuss and solve a related factor analysis or regression problem based on real world examples.
The presentation covers the following topics:
- Factor analysis “101;”
- Merging factor analysis results with multiple regression; and,
- What it means to build a “useful” regression model.
Factor Analysis 101 is an applied description of this method and its associated do’s and don’ts. Sometimes you have to ignore factor analysis results and at other times you have to pay attention to them. Learn when to do both. Factor Analysis and Regression demonstrates how to translate factor analysis findings into “summated scales” for use in a regression model. Learn the benefits of doing this and the downsides if you don’t. Building Useful Regression Models explores the promise and limitations of regression modeling. You will develop an understanding of George Box’s famous adage, “all models are wrong, but some are useful.” The session is topped off by showing how one organization used these tools to improve their service delivery strategy.