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Friday, 21 March 2014
Discrete Choice Modeling and Conjoint Analysis
When Rupert Murdoch bought the Wall Street
Journal in 2007 and revamped it, the Journal fought strong newspaper industry
headwinds to reverse a decline in ad sales and boost overall revenue and
attract subscribers. They used conjoint analysis, a technique that has
been widely used in market research for 30 years.
In "Discrete Choice Modeling and Conjoint Analysis" with Anthony
Babinec, you will learn how to ask survey respondents to rank, rate, or choose
among multiple products with multiple attributes, using experimental designs to
manipulate the appearance of attribute levels in product concepts. Data in
hand, you then use statistical methods to infer how the market would choose
among a set of competing product alternatives. This course covers statistical
techniques that address questions like this. Conjoint analysis is a marketing
research technique that asks respondents to rank, rate, or choose among
multiple products or services, where each product is described using multiple
Market researchers and consultants, analysts
studying corporate strategy.
Course outline: The course
is structured as follows
SESSION 1: Fundamental Concepts
Ranks, ratings, choices
Random utility models
SESSION 2: Designing Conjoint and Choice Studies
Design of experiments
SESSION 3: Analysis and Interpretation
Conjoint analysis of ratings
Discrete choice models
SESSION 4: Case Studies
·Homework in this course consists of short answer questions to test
concepts and guided data analysis problems using software.
·Guided data modeling problems using software
·In addition to assigned readings, this course also has Discussion
tasks, and an end of course data modeling project.
The instructor, Anthony Babinec, is President
of AB Analytics and previously Director of Advanced Products Marketing at SPSS,
has specialized in the application of statistical and data mining methods to
the solution of business problems.
You will be able to ask questions
and exchange comments with the instructors via a private discussion board
throughout the course. The courses take place online at statistics.com
in a series of 4 weekly lessons and assignments, and require about 15
hours/week. Participate at your own convenience; there are no set times
when you must be online. You have the flexibility to work a bit every day, if
that is your preference, or concentrate your work in just a couple of days.
We, the Center for eLearning and Training
(C-eLT), Pune, partner with Statistics.com and offer these courses to Indian
participants at special prices payable in INR.