Introduction to Advanced Statistical Techniques

Understand the how and when advanced statistical techniques are used and understand which business questions they address

The growth in integrated solutions and DIY platforms means that advanced statistical techniques (such as cluster analysis and conjoint analysis) are available to an ever-increasing number of market researchers and insight professionals. Having access to the tools, however, doesn’t automatically mean you know how to choose and deploy the appropriate technique.

This course provides a map that outlines the terrain, highlights the hazards and gives guidance on the best routes to take when using advanced statistical techniques. It outlines a range of advanced tools, discusses which business questions they address, shows what sorts of data are required, and highlights their strengths and weaknesses.

The techniques covered include: Factor Analysis, Cluster Analysis, Correspondence Analysis, Regression Analysis, Conjoint Analysis and MaxDiff. Other techniques mentioned and placed in the wider context include: TURF Analysis, Price Sensitivity Meter, Structural Equation Modelling, Logistic Regression and Machine Learning.

You will also receive a copy of the textbook ‘Analytics For Customer Insights: A Non-Technical Introduction’ – by author Chuck Chakrapani (2018).

The course does not assume any advanced statistical knowledge, and does not assume that you will be using any specific software package. However, you will get more from the course if you already have some background knowledge and/or are using one of the platforms such as SPSS, Displayr, or the statistical language R.

Learning outcomes

• Understand the difference between dependence techniques (e.g. regression) and interdependence techniques (e.g. factor analysis)
• How to map techniques to specific business/research needs/questions
• Appreciate the strengths, weaknesses and requirements of the key advanced statistical techniques

Who would benefit

People looking for an overview of advanced statistical techniques. Typical participants include those commissioning research, researchers wishing to broaden their role, and those considering specialising in advanced quantitative techniques.

AI funding available

New funding for up to 50% of the cost of training employees in AI skills is now available. Run by the Department for Science, Innovation & Technology, the fund is available for applications until the 31 May 2024 and is aimed at SMEs in the professional and business services sector. Please see details on how apply here.

Trainer bio

Ray Poynter

Ray is the author of The Handbook of Mobile Market Research, The Handbook of Online and Social Media Research and the #IPASOCIALWORKS Guide to Measuring Not Counting, the founder of NewMR.org, editor of the ESOMAR book Answers to Contemporary Market Research Questions, a content author for the University of Georgia’s Principles of Market Research course and is the Managing Director of The Future Place, a UK-based consultancy, specialising in training.

Ray has spent the last 35 years at the intersection of innovation, technology, and market research, during which time Ray has held director level positions with Vision Critical, Virtual Surveys, The Research Business, Millward Brown, Sandpiper and IntelliQuest. Ray sees his mission as “Have fun, help people, pursue knowledge, and try to make some money along the way”

Testimonials

"A solid overview of the different techniques available."

Tom Wilkins - City Football Group, May 2023

"An interesting and engaging course on advanced use of statistical techniques."

John Krzyzanowski, May 2023

"Good solid foundation in statistical techniques, that can be used and put into practice in the real world."

Mathew Sutcliffe - Emerald Publishing, May 2023

"A fantastic course which covered advanced techniques in a really engaging way."

Glenn Gowen - ITV, May 2022

"Inspiring."

Sean Gildea - Fáilte Ireland, May 2022

"Informative and suitable for both those that love/are scared of Statistics."

Keith Allen - Hotspex, October 2019