Discriminant analysis is a technique that is used to identify variables that are important for distinguishing among groups of individuals. For example, it might be useful to identify those variables that determine whether or not, for a given product, an individual would be most likely to choose to deal with a (1) bank-, (2) finance company or (3) credit union.
Variables to be used in such an analysis would depend on your particular interests, but might include demographics, past Ioan/credit experience, likely reasons for loans, and needs/benefits.
If desired, discriminant analysis can also be used to develop a procedure for predicting group membership (bank vs. finance company vs. credit union) for individuals not included in the analysis. This type of procedure might be useful in selecting potential customers for a targeted marketing campaign.
It provides a graphic representation of the market structure using categorical variables, e.g., brands and product usage. Map provide a graphic representation of the relationship between two categorical variables, e.g., brand and product usage.
The map illustrates: Perceived similarity/contpetitiveness among products in your category (represented by proximity on the perceptual map);
Strengths and weaknesses of your brand and key competitors; and, Market gaps (spaces on the map) are representing potential opportunities to provide a product with attributes that no current product is perceived as delivering well.
IBHS Researches Ltd. Co also applies other tools such as Meta-analysis, geo-coding and cluster coding, time-series forecasting models, data-base mining, exploratory data analysis techniques, conjoint and hypothetical choice modeling, network Analysis, LISREL models, business outcome modeling, validation and reliability measurement, CRM, employee relationship management, log-linear models, logit, probit, tobit, Chaid, OLS, SES, Chi squared, process and impact evaluations, T.U.R.F., SWOT, etc.