Latent Variables in Data Analysis

Latent variables are variables that are not directly observed, but are inferred through other data. Once data is accumulated it is typically presented through the usage of oval diagrams.

Latent variables correspond to real current physical aspects. For example, when a store determines where to place products on shelves next to other products that were observed to be bought together by most customers, this can be considered latent variables within survey data. Continue reading

Customer Satisfaction Survey: Is it too soon?

Every good customer survey should be utilized with proper timing. This is a critical factor which ultimately determines how effective your survey is. The issue of timing should include both when to do it and how often, as well.

In reality, you should be committed to gaining an understanding of what your customers think about your products and services. You should be excited to get insight into what to adapt in order to get more customer satisfaction. However, presenting a customer survey too soon is like a half-baked cake. Continue reading