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ABSTRACT: WidgeCorps’s management team had a lack in understand of some of the key multivariate statistical techniques used by many companies to measure how variables react with one another. This paper will discuss how three of these techniques are commonly used and provides a recommendation for the company to use as they move forward with research and development of new products. This paper also compares and contrasts the different multivariate techniques. KEYWORDS: multivariate techniques, Chi-Square Test, multidimensional scaling There are many different multivariate techniques commonly used in businesses across the world. This paper will compare three commonly used techniques including factor analysis, multi-dimensional scaling,†¦show more content†¦Gmail, a subsidiary of Google is able to track consumer data with every click that a consumer makes with their mouse as the cruise the internet. Market research firms collect data daily about consumers. They then make note of the buying and internet surfing trends of consumers. They use cluster analysis by putting the clusters or groups of consumers with similar trends together and then marketing new products or services to them, (Downes, 2012). Multidimensional Scaling: Multidimensional Scaling is another multivariate technique WidgeCorp could use while doing research. Multidimensional scaling is the most abstract of the multivariate techniques. While abstract, it was the easiest for me to comprehend. Multidimensional Scaling has two main objects. The first objective is to find a pattern somewhere in the data collected and presenting it visually for all to understand, (Wilkes, 1977). To visually display the data, Multidimensional Scaling places the data retrieved onto a three-dimensional plain. It is particularly useful when dealing with many different variables and allows the reader to see a visual representation on how they relate to one another. Multidimensional scaling is often used to test both the quality and safety of consumer products, (Yang, 2010). When researching the different multivariate techniques, I found some practical application of the Multidimensional Scaling method. The most interesting application I found was relating toShow MoreRelated Paper761 Words   |  4 Pages In the 1790s members of the industry in both Paris and London were working on inventions to try to mechanise paper-making. In England John Dickenson produced the cylinder machine that was operational by 1809. Although useful for smaller enterprises, this lacked the large scale potential of the machine resulting from the invention of Nicholas-Louis Robert in Paris, which had a more complicated incubation period. The last of the early improvements to this machine were financed by the Fourdrinier brothersRead MoreReflection Paper836 Words   |  4 Pagesand integrating quotes. 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