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Some Especially Useful Techniques

1. Unsupervised Analysis

Seeks combinations of variables that

1. Express most of the variation in the data
2. Can be explained (or at least given a name!)

2. Unsupervised Classification

Seeks associations of observations

1. Places everything into a few groups
2. Produces "familiar" representations

3. Supervised Analysis

Seeks to meet a specific objective

1. Optimal resolution of stated criterion
2. Explicit measure of risk