Blog

Dec
2017

CHAID (Chi-square Automatic Interaction Detector)

In this latest blog post in our Market Research terminology series, we discuss CHAID - an algorithm that is useful when looking for patterns in datasets with lots of categorical variables and that offers a convenient way of visualising relationships in the data.

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Sep
2017

Customer Segmentation

Customer segmentation breaks down large groups of current and/or potential customers in a given market into smaller groups that are “similar” in terms of their preferences or characteristics. This allows you to adopt a different marketing mix for each segment of the market.

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Jul
2017

Maximum Difference Scaling (MaxDiff)

MaxDiff or Best-Worst Scaling is a survey method that is used to try to gain an understanding of consumers’ likes and dislikes. The goal is to rank product attributes in terms of their importance to customers, so that comparisons and trade-offs between them can be made.

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Apr
2017

Key Driver Analysis

It’s important to identify and understand the drivers of key business outcomes. You might want to understand which aspects of your service influence how likely a customer will be to recommend you, for example. A so called key driver analysis can be used to address this sort of question.

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Jan
2017

Market Basket Analysis: Understanding Customer Behaviour

In a previous blog post, we discussed how supermarkets use data to better understand consumer needs and, ultimately, increase their overall spend. One of the key techniques used by the large retailers is called Market Basket Analysis (MBA), which uncovers associations between products by looking for combinations of products that frequently co-occur in transactions.

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