Cluster Analysis (Episode 22)

In this podcast, the hosts discuss the basics of cluster analysis and the challenges it presents. They explain the K means clustering approach and the importance of finding the right balance in the number and size of clusters. They explore the process of interpreting clusters and labeling them in medical fields and marketing. The difficulties of applying clustering algorithms to non-continuous variables are discussed, as well as the importance of visualization, standardization, categorical variables, and weighting in understanding clusters.