Multivariate Statistics (GRAV007)

Multivariate statistics encompass fundamentals behind quantitative data analysis, which is widely applied in data-driven decision making, marketing research and consumer behaviour studies. It is virtually impossible to succeed in the business world in the age of big data without a working knowledge of basic data analysis approaches and statistical software. The aim of the course is to introduce a variety of standard statistical methods used to analyse multivariate data, emphasizing the implementation and interpretations of these methods. The course covers the design of a research project, the choice of suitable multivariate methods, the testing of the fundamental assumptions underlying various methods, the application and evaluation of multivariate methods and interpretation of the results. Practical examples, having a real-world relevance, will be provided and participants involved with hands-on experience of data analysis using SPSS and R/radiant as the main tools. Students will be advised to study relevant chapters from textbook and read articles in academic journals.

During this course, you will:

• Demonstrate knowledge and understanding of the different multivariate data analysis methods most commonly used in business and marketing.
• Apply multivariate statistical techniques to conduct marketing research.
• Determine correct statistical methods for decision-making.
• Interpret the results of statistical analysis and present them in a rigorous, understandable, clear and concise manner.
• Argue the choice of statistical methods when analysing business or marketing case.