Merkle is proud to be speaking at the 4th Annual BayesiaLab Conference, taking place Sept 25 - Oct 2 in Nashville, TN.
On Friday, September 29, Bob Wood, Senior Director of Consumer Analytics at Merkle and Dr. Toshi Yumoto, Director—Advanced Methods & Research at Merkle will lead the session, "Using Bayes Nets for Market Share Driver Analyses."Please contact our team today to schedule a meeting with Bob or Toshi at the conference. To learn more about the event, visit the show site directly.
Using Bayes Nets for Market Share Driver Analyses
One of the more common strategic requests directed to business analytic teams is to analyze market research or related data to better understand the drivers of customer loyalty, satisfaction, or in this case, share of wallet. Using data from an extensive survey in the fresh-squeezed orange juice category, we compare and contrast direct-effect-only models (in this case, multiple regression and Dirichlet regression) with an Augmented Naïve Bayes model. The Augmented Naïve Bayes model, with its captured indirect effects, results in meaningful differences for these kinds of analyses, and can change the strategic counsel and recommendations delivered to senior leadership, leading to more effective business strategies and programs.