New Analytical Design Methods

Written by Tara Peris
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New analytical design methods are constantly being developed and the only real way to stay abreast of things is to keep an expert consultant on hand for help with statistical issues. Any business problem can be tackled effectively with statistical savvy, but it is often a matter of choosing from among several different strategies that makes the difference between success and failure.

You would think that we have maxed out on what we can do with numbers, but these days, statistics remains a rapidly expanding field. From growth curve modeling to time-sequence analysis or structural equation modeling, it is possible to examine just about any issue through a statistical lens. Nowhere is this more true than in the business world, where statistics are employed regularly to help with product development.

Keeping up with New Analytical Design Methods
There are a number of favored techniques for those who would like to test out the trajectory of a certain product using statistical models. Design of experiments and Six Sigma engineering are two particularly popular approaches that use different models to examine the relative influence of different project parameters on product outcome. At the same time, new analytical design methods are proliferating rapidly.

Given this, it would behoove you to obtain formal consultation for more important projects. You may be aware of some of the basic options, but these days, there are minor alterations to traditional methods that open up countless new possibilities. To maximize your use of statistics, be sure you are using the most cutting edge and appropriate methods available. Consult a statistician and you are bound to stay on track.


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