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Econometrics for marketing

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Econometrics for marketing

  1. 1. Business Economics Econometrics for MarketingOverview  The user can experiment with laggedEconometrics is one of the key techniques variables, differences, logs, etc.used to provide analytical support in the field without re-defining the modelof marketing. However, traditional approaches  Built-in transformations to enabletypically involve considerable effort in data diminishing returns curves to bemanipulation, model development and report included in linear regression modelspreparation. The net effect is to push up the  The ability to generate new variablescost per model produced. “on-the-fly” without having to calculate separate data seriesFor this reason, Business Economics Limited  Automated production of reports andhas developed the StatsPro econometrics charts on predicted versus actualsoftware package designed specifically to values, residuals, decomposition andmake the use of econometrics in marketing as waterfalls for all model types, includingstreamlined and efficient as possible. log and difference models  A highly intuitive and visual approach to system modelsThe above chart, taken from a typical modelling study,shows an automatically-generated decomposition chart inwhich the relative impact of the various key drivers can beassessed. The above chart, also generated automatically by the system, shows the same information as that in the chartWhat does StatsPro do? opposite but highlights the year-on-year changes.StatsPro provides a quick and easy platformfor 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 thisIt is a general econometrics package and provides a flexible and highlycontains a range of standard regression responsive modelling toolmodels but, in order to deliver fast and well-  Alternatively, the kernel of theformed models, it also contains a number of regression system can be used as aspecial 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 coefficientsTo find out more contact David Merrick at Business Economics Limited on 07714 456068 ordavid@BizEcon.com

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