Non-truncated title of talk: Visualization of statistically significant correlation coefficients from a correlation matrix: a call for a change in practice
Abstract: This talk will discuss a forthcoming article in the Journal of Marketing Analytics on the visualization of correlation matrices. The article discusses two studies that provide evidence that commonly used formats for displaying statistical significance, namely, the use of different number of asterisks and the use of absolute values, are inefficient. Using lessons drawn from the literature on visual perception, we propose the use of variations in hue and intensity of numbers to reduce the amount of time and effort taken to glean information from correlation matrices. We also create and describe a web-based engine, which is a shiny app, that can be used to implement these modified approaches to display correlation matrices.
Speaker Profiles: Vivek H. Patil, Ph.D., is a Professor of Marketing at Gonzaga University. Fred Franken, Ph.D., has over 15 years of experience in data analysis. His background includes work at the NIH, in the private sector, and in numerous academic research laboratories, including Oregon Health and Science University, where he earned his PhD in Behavioral Neuroscience in 2011. He currently works as a quantitative analyst at U.S. Bank where he is responsible for the validation of a diverse portfolio of models used for Anti-Money Laundering and Sanctions screening.