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Event	
  sponsored	
  by	
  Affinnova	
  
All	
  copyright	
  owned	
  by	
  The	
  Future	
  Place	
  and	
  the	
  presenters	
  of	
  the	
  material	
  
For	
  more	
  informa=on	
  about	
  Affinnova	
  visit	
  h>p://www.	
  affinnova.com/	
  
For	
  more	
  informa=on	
  about	
  NewMR	
  events	
  visit	
  newmr.org	
  
Advanced	
  Quant	
  Techniques	
  
July	
  14,	
  2011	
  
The	
  Benefits	
  of	
  Conjoint	
  Analysis	
  and	
  
Choice	
  Modelling	
  
Ray	
  Poynter,	
  The	
  Future	
  Place	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
The Benefits of Conjoint
Analysis and Choice Modelling
Ray Poynter
The Future Place
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Traditional Research
How	
  important	
  is	
  screen	
  size	
  compared	
  with	
  size	
  of	
  memory?	
  
How	
  much	
  extra	
  would	
  you	
  pay	
  for	
  24	
  hour	
  service?	
  
On	
  a	
  scale	
  of	
  1	
  to	
  5	
  how	
  much	
  does	
  each	
  of	
  the	
  following	
  
drive	
  your	
  choice	
  of	
  holiday?	
  
1.  Number	
  of	
  tour	
  reps	
  
2.  Transfer	
  =me	
  
3.  Number	
  of	
  swimming	
  pools	
  
4.  Number	
  of	
  night	
  clubs	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
1 2 3
4 5 6
Prefers	
  triangles	
  
Green	
  is	
  be>er	
  than	
  red	
  &	
  that	
  is	
  be>er	
  than	
  blue	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
1
2
3
4
5
6
Prefers	
  Green,	
  then	
  red,	
  then	
  blue	
  
Triangles	
  are	
  be>er	
  than	
  squares	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
1
2
3 4
5 6
Prefers	
  Green	
  
Triangles	
  are	
  be>er	
  than	
  squares	
  
Red	
  is	
  be>er	
  than	
  blue	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Green Red Blue Triangle Square Rank
1 0 0 1 0 1
1 0 0 0 1 2
0 1 0 1 0 3
0 1 0 0 1 5
0 0 1 1 0 4
0 0 1 0 1 6
If	
  you	
  are	
  thinking	
  about	
  dummy	
  coding	
  the	
  variables/levels,	
  you	
  do	
  not	
  need	
  an	
  introduc=on	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Colour	
   Shape	
  
	
  Green	
   109	
   	
  Triangle	
   73	
  
	
  Red	
   18	
   	
  Square	
   0	
  
	
  Blue	
   0	
   	
  Importance	
   73	
  
	
  Importance	
   109	
  
Attributes, Levels & Importance
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
120GB	
  Disk	
  
15	
  inch	
  Screen	
  
1MB	
  RAM	
  
120GB	
  Disk	
  
17	
  inch	
  Screen	
  
2MB	
  RAM	
  
80GB	
  Disk	
  
15	
  inch	
  Screen	
  
2MB	
  RAM	
  
80GB	
  Disk	
  
17	
  inch	
  Screen	
  
1MB	
  RAM	
  
120GB	
  Disk	
  
19	
  inch	
  Screen	
  
512KB	
  RAM	
  
80GB	
  Disk	
  
19	
  inch	
  Screen	
  
512KB	
  RAM	
  
Card	
  Sort	
  
Data	
  Collec=on	
  
Pair-­‐wise	
  Comparisons	
  
(Discrete	
  Choice)	
  
120GB	
  Disk	
  
15	
  inch	
  Screen	
  
1MB	
  RAM	
  
80GB	
  Disk	
  
17	
  inch	
  Screen	
  
2MB	
  RAM	
  
or	
  
120GB	
  Disk	
  
15	
  inch	
  Screen	
  
1MB	
  RAM	
  
Not	
  Buy	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Def	
  Buy	
  
1	
  2	
  3	
  4	
  5	
  6	
  7	
  8	
  9	
  10	
  11	
   Ra=ngs	
  Conjoint	
  
120GB	
  Disk	
  
15	
  inch	
  Screen	
  
1MB	
  RAM	
  
100GB	
  Disk	
  
17	
  inch	
  Screen	
  
1MB	
  RAM	
  
or	
   or	
  
80GB	
  Disk	
  
15	
  inch	
  Screen	
  
2MB	
  RAM	
  
None	
  
of	
  
these	
  
or	
   Discrete	
  Choice	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Uses for the Conjoint & DCM
What-if modelling
Needs based
segmentation
Determining drivers/
importances
Pricing benefits
NPD
Portfolio management
Pricing research
Scheduling/Offers
Input to cust. sat.
Policy choices
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Limitations
1.  Limits to numbers of attributes
2.  Attribute interactions
3.  Variations in attribute perceptions
4.  Costs
5.  Can be boring (but not necessarily)
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
More Advanced Topics
a)  Attribute specific levels
b)  Partial profiles
c)  Latent class
d)  HB (Hierarchical Bayes)
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Thank you
Ray Poynter
The Future Place
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Q & A
Sue	
  York	
  
The	
  Future	
  Place	
  
Ray	
  Poynter	
  
The	
  Future	
  Place	
  
Speaker Ray Poynter, The Future Place, UK
NewMR Advanced Quant Techniques, July 14, 2011
Ray Poynter
Read	
  Ray’s	
  blog	
  @	
  h>p://thefutureplace.typepad.com/	
  
Follow	
  Ray’s	
  tweets	
  at	
  @	
  h>p://twi>er.com/raypoynter	
  	
  
Connect	
  with	
  Ray	
  on	
  LinkedIn	
  @	
  h>p://uk.linkedin.com/in/raypoynter	
  	
  
Find	
  out	
  about	
  Ray’s	
  book	
  at	
  @	
  h>p://bit.ly/cmFnbo	
  	
  

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Ray poynter advanced quant - 2011 - 1

  • 1. Event  sponsored  by  Affinnova   All  copyright  owned  by  The  Future  Place  and  the  presenters  of  the  material   For  more  informa=on  about  Affinnova  visit  h>p://www.  affinnova.com/   For  more  informa=on  about  NewMR  events  visit  newmr.org   Advanced  Quant  Techniques   July  14,  2011   The  Benefits  of  Conjoint  Analysis  and   Choice  Modelling   Ray  Poynter,  The  Future  Place  
  • 2. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 The Benefits of Conjoint Analysis and Choice Modelling Ray Poynter The Future Place
  • 3. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Traditional Research How  important  is  screen  size  compared  with  size  of  memory?   How  much  extra  would  you  pay  for  24  hour  service?   On  a  scale  of  1  to  5  how  much  does  each  of  the  following   drive  your  choice  of  holiday?   1.  Number  of  tour  reps   2.  Transfer  =me   3.  Number  of  swimming  pools   4.  Number  of  night  clubs  
  • 4. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011
  • 5. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 1 2 3 4 5 6 Prefers  triangles   Green  is  be>er  than  red  &  that  is  be>er  than  blue  
  • 6. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 1 2 3 4 5 6 Prefers  Green,  then  red,  then  blue   Triangles  are  be>er  than  squares  
  • 7. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 1 2 3 4 5 6 Prefers  Green   Triangles  are  be>er  than  squares   Red  is  be>er  than  blue  
  • 8. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Green Red Blue Triangle Square Rank 1 0 0 1 0 1 1 0 0 0 1 2 0 1 0 1 0 3 0 1 0 0 1 5 0 0 1 1 0 4 0 0 1 0 1 6 If  you  are  thinking  about  dummy  coding  the  variables/levels,  you  do  not  need  an  introduc=on  
  • 9. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Colour   Shape    Green   109    Triangle   73    Red   18    Square   0    Blue   0    Importance   73    Importance   109   Attributes, Levels & Importance
  • 10. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 120GB  Disk   15  inch  Screen   1MB  RAM   120GB  Disk   17  inch  Screen   2MB  RAM   80GB  Disk   15  inch  Screen   2MB  RAM   80GB  Disk   17  inch  Screen   1MB  RAM   120GB  Disk   19  inch  Screen   512KB  RAM   80GB  Disk   19  inch  Screen   512KB  RAM   Card  Sort   Data  Collec=on   Pair-­‐wise  Comparisons   (Discrete  Choice)   120GB  Disk   15  inch  Screen   1MB  RAM   80GB  Disk   17  inch  Screen   2MB  RAM   or   120GB  Disk   15  inch  Screen   1MB  RAM   Not  Buy                      Def  Buy   1  2  3  4  5  6  7  8  9  10  11   Ra=ngs  Conjoint   120GB  Disk   15  inch  Screen   1MB  RAM   100GB  Disk   17  inch  Screen   1MB  RAM   or   or   80GB  Disk   15  inch  Screen   2MB  RAM   None   of   these   or   Discrete  Choice  
  • 11. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Uses for the Conjoint & DCM What-if modelling Needs based segmentation Determining drivers/ importances Pricing benefits NPD Portfolio management Pricing research Scheduling/Offers Input to cust. sat. Policy choices
  • 12. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Limitations 1.  Limits to numbers of attributes 2.  Attribute interactions 3.  Variations in attribute perceptions 4.  Costs 5.  Can be boring (but not necessarily)
  • 13. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 More Advanced Topics a)  Attribute specific levels b)  Partial profiles c)  Latent class d)  HB (Hierarchical Bayes)
  • 14. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Thank you Ray Poynter The Future Place
  • 15. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Q & A Sue  York   The  Future  Place   Ray  Poynter   The  Future  Place  
  • 16. Speaker Ray Poynter, The Future Place, UK NewMR Advanced Quant Techniques, July 14, 2011 Ray Poynter Read  Ray’s  blog  @  h>p://thefutureplace.typepad.com/   Follow  Ray’s  tweets  at  @  h>p://twi>er.com/raypoynter     Connect  with  Ray  on  LinkedIn  @  h>p://uk.linkedin.com/in/raypoynter     Find  out  about  Ray’s  book  at  @  h>p://bit.ly/cmFnbo