For market researchers working on survey projects, you likely have at least a moderate understanding of the statistics we use to summarize and analyze results. However, with so many acronyms to navigate, discussing statistics can sometimes feel like speaking a foreign language! To make sure you have those essential acronyms ready at your fingertips, let’s break down some must-know statistical terms.
This list of acronyms is Part 2 of our 5-Part Series on the 100 Essential Acronyms Every Research Rockstar Needs to Know. Did you miss Part 1? Get it here.
Essential Statistics for Market Research Acronyms
Next up: 19 essential acronyms commonly used in statistics for market research. Download the handy infographic for easy reference! It includes key acronyms such as:
- ANOVA: Analysis of Variance
- CHAID: Chi-squared Automatic Interaction Detection
- HB: Hierarchical Bayes
- MaxDiff: Maximum Difference Scaling
- SPSS: Statistical Package for the Social Sciences
Master Market Research Acronyms!
Let’s face it: mastering acronyms is a total confidence booster! Understanding these terms will amp up your presence in meetings, especially when you’re diving into market research methodology planning with clients and stakeholders. For our Research Rockstar students, this infographic will be handy reference—like having the ultimate setlist for your market research concert! Rock on!
Ready to level up? Stay tuned for Part 3: Sampling & Demographics Market Research Acronyms, featuring 15 essential acronyms.
