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Econometrics for marketing

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Econometrics for marketing

  1. 1. Business Economics Econometrics for Marketing Overview  The user can experiment with lagged Econometrics is one of the key techniques variables, differences, logs, etc. used to provide analytical support in the field without re-defining the model of marketing. However, traditional approaches  Built-in transformations to enable typically involve considerable effort in data diminishing returns curves to be manipulation, model development and report included in linear regression models preparation. The net effect is to push up the  The ability to generate new variables cost per model produced. “on-the-fly” without having to calculate separate data series For this reason, Business Economics Limited  Automated production of reports and has developed the StatsPro econometrics charts on predicted versus actual software package designed specifically to values, residuals, decomposition and make the use of econometrics in marketing as waterfalls for all model types, including streamlined and efficient as possible. log and difference models  A highly intuitive and visual approach to system models The above chart, taken from a typical modelling study, shows an automatically-generated decomposition chart in which the relative impact of the various key drivers can be assessed. The above chart, also generated automatically by the system, shows the same information as that in the chart What does StatsPro do? opposite but highlights the year-on-year changes. StatsPro provides a quick and easy platform for a range of regression analyses, including: How is StatsPro used? StatsPro is currently available on two main  Advertising effectiveness platforms.  Price and promotional analysis  Demand forecasting  For generic econometric modelling,  Propensity analysis StatsPro would normally be used an add-in to Microsoft Excel as this It is a general econometrics package and provides a flexible and highly contains a range of standard regression responsive modelling tool models but, in order to deliver fast and well-  Alternatively, the kernel of the formed models, it also contains a number of regression system can be used as a special productivity features as follows: DLL in a bespoke econometrics modelling solution for specific  A quick and easy method of including applications. or omitting variables, or fixing their coefficients To find out more contact David Merrick at Business Economics Limited on 07714 456068 or david@BizEcon.com

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