business intelligence best practice summit: introduction to choice modelling
DESCRIPTION
Introduction to Choice Modelling and Predictive Customer AnalyticsTRANSCRIPT
PREDICTIVE CUSTOMER ANALYTICSMike McGee | General Manager | Managility
FOUNDATIONS
Professor
Daniel McFadden
2000 Nobel Prize Winner
Berkeley, MIT, University
of Southern California
Focus Area: Discrete
Choice Theory
Professor
Daniel Kahneman
2002 Nobel Prize Winner
Princeton, Berkeley
Focus Areas:
Behavioural Economics,
Hedonic
Philosophy
Can we really
predict
customer
behaviour?
What are those choices worth?
Predictive Customer Analytics (PCA)Beneath the Surface
Benefits & Power of PCASimulation can test the demand for a number of attributes, such as:
product features, pricing and packaging
Benefits & Power of PCAUnderstand the value attributed by key customer segments
Benefits & Power of PCAUnderstand the price elasticity and demand curve
for your product or services
Benefits & Power of PCAAssess the customer’s ‘Willingness-to-Pay’
for product features
Benefits & Power of PCAPredict the shifts in market shares
Benefits & Power of PCAUnderstand the true value of your brand