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Statistical Discovery for Consumer and Marketing Research

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See how you can use statistical analysis to conduct useful and effective consumer and marketing research. These slides were used in a seminar held in the UK at The Shard. To see upcoming seminars, visit http://www.jmp.com/uk/about/events/conferences/

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Statistical Discovery for Consumer and Marketing Research

  1. 1. Copyright © 2013, SAS Institute Inc. All rights reserved. STATISTICAL DISCOVERY IN CONSUMER AND MARKET RESEARCH 08 JULY 2014 | SHANGRI-LA HOTEL AT THE SHARD, LONDON
  2. 2. Copyright © 2013, SAS Institute Inc. All rights reserved. WELCOME TO THE SHARD
  3. 3. Copyright © 2013, SAS Institute Inc. All rights reserved. WHO’S HERE? FROM JMP Bernard Julie Malcolm Luke
  4. 4. Copyright © 2013, SAS Institute Inc. All rights reserved. APPLICATIONS MAKE BETTER DECISIONS, FASTER WITH JMP
  5. 5. Copyright © 2013, SAS Institute Inc. All rights reserved. TODAY’S AIMS WE WILL SHOW YOU HOW YOU CAN • Get deep insight into your consumer and market research data • Marriage of advanced analytics allied with compelling visuals • Get more from your current environment • JMP is simple to install and easy to use • Build better models • Do scenario analysis with clients and execs • Ultimately, make better marketing decisions faster
  6. 6. Copyright © 2013, SAS Institute Inc. All rights reserved. AGENDA Time Topic Presenter 09:40 Introduction: Statistical Discovery in Consumer and Market Research Ian Cox 10:10 Case Study: Using Visualisation to Inform the Analysis of Large Survey Data Robert Anderson 10:50 Case Study: Predicting Behaviour from Ethnographic and Usage Data Ian Cox 11:20 Break 11:50 Case Study: Linking Sensory and Taste Panel Data to Make Better Products Ian Cox 12:20 Case Study: Targeting Offers More Effectively Using Uplift Modeling Robert Anderson 12:50 Conclusion Bernard McKeown 13:00 Lunch
  7. 7. Copyright © 2013, SAS Institute Inc. All rights reserved. TODAY’S PRESENTERS Robert AndersonIan Cox
  8. 8. Copyright © 2013, SAS Institute Inc. All rights reserved. AGENDA Time Topic Presenter 09:40 Introduction: Statistical Discovery in Consumer and Market Research Ian Cox 10:10 Case Study: Using Visualisation to Inform the Analysis of Large Survey Data Robert Anderson 10:50 Case Study: Predicting Behaviour from Ethnographic and Usage Data Ian Cox 11:20 Break 11:50 Case Study: Linking Sensory and Taste Panel Data to Make Better Products Ian Cox 12:20 Case Study: Targeting Offers More Effectively Using Uplift Modeling Robert Anderson 12:50 Conclusion Bernard McKeown 13:00 Lunch
  9. 9. Copyright © 2013, SAS Institute Inc. All rights reserved. HELP US TO HELP YOU . . .
  10. 10. Copyright © 2013, SAS Institute Inc. All rights reserved. (Select all that apply). 1. Excel files 2. Text files 3. Databases 4. Enter data yourself 5. Other WHERE DOES YOUR DATA COME FROM?QUESTION 1
  11. 11. Copyright © 2013, SAS Institute Inc. All rights reserved. (Select one). 1. <100 2. 101 to 1,000 3. 1001 to 10,000 4. 10,001 to 100,000 5. >100,000 HOW MANY ROWS ARE TYPICALLY IN YOUR DATA SETS?QUESTION 2
  12. 12. Copyright © 2013, SAS Institute Inc. All rights reserved. HOW MANY COLUMNS ARE TYPICALLY IN YOUR DATA SETS? (Select one). 1. <10 2. 11 to 20 3. 21 to 50 4. 51 to 100 5. >100 QUESTION 3
  13. 13. Copyright © 2013, SAS Institute Inc. All rights reserved. HOW DO YOU ANALYSE OR MAKE SENSE OF YOUR DATA? (Select all that apply). 1. Tabular summaries 2. Graphs 3. Statistical methods 4. Data mining or predictive modelling 5. Statistically designed experiments 6. Quality or reliability methods QUESTION 4
  14. 14. Copyright © 2013, SAS Institute Inc. All rights reserved. WHAT PROPORTION OF YOUR TOTAL ANALYSIS TIME IS TYPICALLY SPENT ACCESSING AND PREPARING DATA FOR ANALYSIS? (Select one). 1. <20% 2. 20% to 40% 3. 41% to 60% 4. 61% to 80% 5. >80% QUESTION 5
  15. 15. Copyright © 2013, SAS Institute Inc. All rights reserved. STATISTICAL DISCOVERY IN CONSUMER AND MARKET RESEARCH
  16. 16. Copyright © 2013, SAS Institute Inc. All rights reserved. A CHANGING LANDSCAPE . . . . . . WITH SOME ENDURING THEMES • Marketing is complex and driven by rapidly evolving digital technologies. • Yet core business issues endure: finding the most profitable growth opportunities, developing the best products and services, taking the best marketing action, and maximizing cross-business impact. • In addition to a constant focus on the customer — current or potential — one of the imperatives is to be data-driven. • Data is ubiquitous in all aspects of finding consumers and making them happy, from introducing new products or services, to positioning, branding, advertising, segmentation and promotion. • Although the digital revolution offers the promise to positively change the dynamic with consumers, this opportunity will be realized only if you can successfully leverage new data to better understand what specific groups of consumers really want and how you can best meet, or even shape, their needs.
  17. 17. Copyright © 2013, SAS Institute Inc. All rights reserved. BROAD AREAS IN WHICH DATA ARISE Descriptive Research Usually builds on prior exploration to describe markets, segments, competitors and consumers. It’s also used to measure performance within an agreed framework, usually on an ongoing basis Exploratory Research Ill-defined problems and opportunities relating to consumers are usually clarified and refined using a combination of interviews, focus groups and observational and ethnographic studies. Causal Research Establishing cause requires an explanatory theory, a statistical relationship, correct time ordering, and adequate control of any other Xs considered as extraneous. Sensory Studies Aim to understand how our human senses will contribute to the overall experience of consuming or using a product. Predicting Behaviour Y's are predicted from X's using observational data, usually already available. While falling short of establishing causality, predictions of future consumer behavior, if they are trustworthy, can still be incredibly valuable.
  18. 18. Copyright © 2013, SAS Institute Inc. All rights reserved. A PICTURE FOR DEPENDENCE STUDIES System of InterestCauses We Understand X1 X2 X3 Causes We Don’t Understand, Know About, or Care About X4 X5 X6 Measured Effects or Outcomes of Interest Y1 Y2 Y1 = Signal Function1(X1, X2, X3) + Nuisance Function1(X4, X5, X6) Y2 = Signal Function2(X1, X2, X3) + Nuisance Function2(X4, X5, X6) The ‘Nuisance Functions’ or ‘Noise Functions’ are give rise to the Variation in the outcomes of interest.
  19. 19. Copyright © 2013, SAS Institute Inc. All rights reserved. THE FUNDAMENTAL CHALLENGE OF WORKING WITH DATA THE PROBLEM OF INDUCTION Given a body of data that has been collected, make a useful separation into Signal and Noise. . . . Or . . . Or
  20. 20. Copyright © 2013, SAS Institute Inc. All rights reserved. FUNCTIONAL ASPECTS OF WORKING WITH DATA . . . Data Access Data Management Analysis Reporting UserInterface Particularly in Marketing applications, in which users tend not to be (and should not be?) “statistical experts”, the User Interface is very important
  21. 21. Copyright © 2013, SAS Institute Inc. All rights reserved. BUT WAIT! THE WORLD IS FULL OF SOFTWARE – WHAT’S SPECIAL ABOUT JMP? Confirmatory Data Analysis (CDA) “Hypothesis Testing” Exploratory Data Analysis (EDA) “Hypothesis Generation”
  22. 22. Copyright © 2013, SAS Institute Inc. All rights reserved. 1. Data visualization, done properly, is very powerful and effective. 2. Statistical analysis, done properly (and defined broadly to include things like experimental design and predictive modeling) is also very powerful and effective, but in a different way. 3. Tightly integrating the two creates a synergy that is much more powerful and effective than either one alone. STATISTICAL DISCOVERY
  23. 23. Copyright © 2013, SAS Institute Inc. All rights reserved. JMP . . . • Is a SAS product (dating from 1989) with hundreds of man-years of development. • Provides ‘Statistical Discovery’ on the desktop using an in-memory architecture. • Can act as a client to SAS. • Can interoperate with other software. • Makes it easy to build ‘applications’ with the JMP look and feel. • Easily deploys such applications via ‘add-ins’.
  24. 24. Copyright © 2013, SAS Institute Inc. All rights reserved. AGENDA Time Topic Presenter 09:40 Introduction: Statistical Discovery in Consumer and Market Research Ian Cox 10:10 Case Study: Using Visualisation to Inform the Analysis of Large Survey Data Robert Anderson 10:50 Case Study: Predicting Behaviour from Ethnographic and Usage Data Ian Cox 11:20 Break 11:50 Case Study: Linking Sensory and Taste Panel Data to Make Better Products Ian Cox 12:20 Case Study: Targeting Offers More Effectively Using Uplift Modeling Robert Anderson 12:50 Conclusion Bernard McKeown 13:00 Lunch
  25. 25. Copyright © 2013, SAS Institute Inc. All rights reserved. BREAK
  26. 26. Copyright © 2013, SAS Institute Inc. All rights reserved. AGENDA Time Topic Presenter 09:40 Introduction: Statistical Discovery in Consumer and Market Research Ian Cox 10:10 Case Study: Using Visualisation to Inform the Analysis of Large Survey Data Robert Anderson 10:50 Case Study: Predicting Behaviour from Ethnographic and Usage Data Ian Cox 11:20 Break 11:50 Case Study: Linking Sensory and Taste Panel Data to Make Better Products Ian Cox 12:20 Case Study: Targeting Offers More Effectively Using Uplift Modeling Robert Anderson 12:50 Conclusion Bernard McKeown 13:00 Lunch
  27. 27. Copyright © 2013, SAS Institute Inc. All rights reserved. APPLICATIONS MAKE BETTER DECISIONS, FASTER WITH JMP
  28. 28. Copyright © 2013, SAS Institute Inc. All rights reserved. TODAY’S AIMS WE HAVE SHOWN YOU HOW YOU CAN • Get deep insight into your consumer and market research data • Marriage of advanced analytics allied with compelling visuals • Get more from your current environment • JMP is simple to install and easy to use • Build better models • Do scenario analysis with clients and execs • Ultimately, make better marketing decisions faster
  29. 29. Copyright © 2013, SAS Institute Inc. All rights reserved. YOUR CHANCE WHAT ARE YOU GOING TO DO NEXT? Discussion with our technical expert • Let us know using the “Comments” box on your feedback form • Invite your managers and colleagues • Discuss consumer and market research challenges Show your interest by filling in request On-Demand Webcasts on Statistical Discovery for Market Research: • http://www.jmp.com/uk/about/events/ondemand/ Register on our website
  30. 30. Copyright © 2013, SAS Institute Inc. All rights reserved. www.SAS.com

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