Join Conrad Carlberg for an in-depth discussion in this video Next steps, part of Business Analytics: Data Reduction Techniques Using Excel and R.
- You've resurfaced after this deep dive…into the topic of data reduction.…I'd like to thank you for the time…you've spent with me exploring…how to use principal components analysis…in the reduction of variables,…and how to use cluster analysis…into finding groups of people.…I hope you've seen how those two techniques…can work together and in fact nurture one another,…and I hope you've see how the…applications R and excel go about their…analytic business in very different ways.…Each application in fact brings…advantages that the other does not.…
They compliment each other very smoothly.…There's much to learn about these methods…that this course can this course can only hint at.…If you want to follow up with more…in depth treatments, you'll find…there's a variety of fine books on the subjects,…Harry Harman's Modern Factor Analysis…is considered a classic,…for something brief but to the point on cluster analysis,…Sage Publications has a good one,…or watching this space.…
In this course, Conrad Carlberg explains how to carry out cluster analysis and principal components analysis using Microsoft Excel, which tends to show more clearly what's going on in the analysis. Then he explains how to carry out the same analysis using R, the open-source statistical computing software, which is faster and richer in analysis options than Excel. Plus, he walks through how to merge the results of cluster analysis and factor analysis to help you break down a few underlying factors according to individuals' membership in just a few clusters.
- Reviewing the problems created by an overabundance of data
- Understanding the rationale for clustering and principal components analysis
- Using Excel to extract principal components
- Using R to extract principal components
- Using R for cluster analysis
- Using Excel for cluster analysis
- Setting up confusion tables in Excel
- Using cluster analysis and factor analysis in concert