Advanced Statistical Tools

OPTIMIZATION
such as…OPTI-KAN effectively prioritizes functional & emotional elements for greatest lift and weights each by potential volume. Applications include product development/improvement, claims and messaging.

SEGMENTATION/NEED STATES
such as…Cluster Analysis groups consumers/products/occasions so that those within the same group are more similar to each other than to those in other groups.  Applications include target marketing & market understanding.

EXPLORATORY DATA ANALYSIS
such as…Multidimensional Scaling (MDS) identifies objects which overlap in terms of a particular dimension such as overall appeal, benefit delivery, needs satisfaction, etc. Applications include menu item reduction; concept, flavor, claims or bundling redundancies; consumer perceptions, etc.

IMPROVEMENT/REFINEMENT
such as…Penalty Analysis links diagnostic performance on sensory or perceptual metrics with any associated penalty on likeability. Applications include direction for specific enhancement.

PROBABILITY MODELS
such as…Bayesian Networks is a probabilistic graphical model that represents a set of random variables and their conditional dependencies.  Applications include predicting promotion effectiveness, emotional connections, brand share, etc.

PRICE SENSITIVITY MODELING
such as…Gabor–Granger is one simplistic method for generating a price demand curve and identifying the ideal price for a new product or service.

STATISTICAL TECHNIQUES
such as…Correlation is one which identifies whether and the degree to which pairs of variables are related. Applications include derived importance, hypothesis testing, etc.

DECISION TREES
such as…Random Forests outputs a prediction value via the assembly of a series of relational decision trees. Applications include path to purchase, key drivers, customer loyalty direction, etc.