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.
read moreIn a recent post we introduced some basic techniques for summarising and analysing categorical survey data. Whilst these methods are a great way to start exploring your categorical data, to really investigate them fully, we can apply a more formal approach.
read moreCustomer 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.
read moreIn 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.
read moreMaxDiff 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.
read moreWith the majority of large commercial organisations embracing Big Data as a means to refine their products and better understand their customers, the charitable sector has been slow to adopt the same techniques to streamline their operations and increase their donation rates.
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