Identifying Peer Institutions Using Cluster Analysis

Abstract

The New York Institute of Technology's (NYIT) School of Management (SOM) wishes to develop a list of peer institutions for the purpose of benchmarking and monitoring/improving performance against other business schools. The procedure utilizes relevant criteria for the purpose of establishing this peer group by way of a cluster analysis. The resulting outcomes suggest five schools that the SOM intends to use for this purpose. The analysis can be extended to also determine the SOM competitive set as well as aspirant schools.