Create a factor analysis model with R programming
Use the results of the factor analysis to identify the market segments
If you ever thought of starting a new business or launching a new product, you’d probably already asked yourself: which type of products are the customers ordering? What type of competition are the products facing in this market? To answer these questions objectively, you can apply Factor Analysis to identify how many and which are the segments in your market. When a company organizes its product line to cover all the attractive market segments and to avoid product overlapping, profitability is more secure. By the end of this project, you will create a market segmentation by applying Q-type Factor Analysis with R Programming. This guided project is for Business and/or Economics students, entrepreneurs, marketing analysts and anyone else interested in improving product planning and trading strategies by applying quantitative methods to support the decision making process. The prerequisites are familiarity with the concepts of market segmentation, multivariate analysis and R programming. This Guided Project was created by a Coursera community member.
In a video that plays in a split-screen with your work area, your instructor will walk you through these steps:
Introduction and data preparation
Calculating the correlation matrix and testing for the assumptions
Extracting and determining the number of factors
Setting the number of factors and evaluating the overall adjustment
Improving the model adjustment
Visualizing and interpreting the results
Your workspace is a cloud desktop right in your browser, no download required
In a split-screen video, your instructor guides you step-by-step
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