Business Intelligence Best Practice Summit: Introduction to Choice Modelling
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Transcript of Business Intelligence Best Practice Summit: Introduction to Choice Modelling
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PREDICTIVE CUSTOMER ANALYTICSMike McGee | General Manager | Managility
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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
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Can we really
predict
customer
behaviour?
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What are those choices worth?
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Predictive Customer Analytics (PCA)Beneath the Surface
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Benefits & Power of PCASimulation can test the demand for a number of attributes, such as:
product features, pricing and packaging
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Benefits & Power of PCAUnderstand the value attributed by key customer segments
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Benefits & Power of PCAUnderstand the price elasticity and demand curve
for your product or services
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Benefits & Power of PCAAssess the customer’s ‘Willingness-to-Pay’
for product features
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Benefits & Power of PCAPredict the shifts in market shares
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Benefits & Power of PCAUnderstand the true value of your brand