On November 10, JMP offered its most recent installment of Statistically Speaking, Market Research: From Data to Insights. Roselinde Kessels, Assistant Professor of Statistics at Maastricht University provided the keynote, then was joined by JMP’s Laura Castro-Schilo and Elizabeth Knapp of Avon to discuss critical market research questions and shows how data-driven marketers using data and analytic methods can provide a better understanding of current and potential customers.
To help JMP sales team engage in more meaningful and productive post-event conversations with customers and prospects, we’ve created the following list of recommended resources to position after the event has concluded. This list pulls appropriate assets from across our web site, and includes white papers, articles, book chapters, webinars, JMP On Air episodes, blogs, and more.
Any asset appearing on this list is considered relevant to the topic, application area or industry, performs well and is recent enough to share. To help distinguish between resources, we also include a short summary, a few words of commentary and a 4-star system to identify the "best of the best." (You can also find all past resource recommendations here.)
If you have any questions about recommendations related to this event, please feel free to contact me.
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November 10, Market Research: From Data to Insights
Accessible Analytics for Marketing
4 Stars Using JMP® for Marketing Analytics and Consumer Research, Mastering JMP
This webinar helps build on the concepts covered in the Stat Speaking event and demonstrates how to use JMP to reduce data complexity and gain insight into consumer preferences. The webinar covers the following topics: Latent Class Analysis (LCA); Multi-Dimensional Scaling (MDS); MaxDiff (Best Worst Analysis); and using DOE to design MaxDiff studies. You’ll learn how to use observed categorical variables to identify unobserved class membership among subjects, create visual representations of the similarities among a set of products, and understand customer preference by analyzing customers’ best and worst product choices.
4 Stars Using JMP® Pro for Enhanced Marketing Analytics and Consumer Research Mastering JMP
This webinar builds on initial webinar, showing how to use JMP Pro to identify events or items (such as products, risk factors or health conditions) that occur together. You’ll learn how to enrich predictive models by including latent, free-form text information buried in reports, survey results or other text documents. The webinar covers Text Explorer, Association Analysis, Document Term Matrix (DTM) and Singular Value Decomposition (SVD).
4 Stars Exploring Customer Perceptions With Maximum Difference Scaling, Technically Speaking
This webinar demonstrates how Maximum difference scaling (MaxDiff) is one of the best ways to understand perceived value. You’ll learn how JMP does MaxDiff (best-worst scaling), to help evaluate choice by asking survey respondents to identify both a best and worst choice. The webinar helps viewers determine what kinds of market research questions can be best answered with MaxDiff, how to design a MaxDiff analysis and the differences and similarities between MaxDiff models and Choice models.
4 Stars Survey Data Analysis: The Fundamentals Book Chapter
In this chapter by Walt Paczkowski you'll learn how to optimize your use of surveys by designing the right questions for your audience—and gain an understanding of how those questions fit within frameworks available in data analysis tools. New case study also demonstrates best practices for survey analysis in JMP (including tips for dealing with missing data). Finally, Paczkowski dives into how survey data are analyzed in JMP, from looking for multivariate relationships to testing for means and proportions, and about recent advances in looking at unstructured text data that have made analysis much easier.
3 Stars Text Explorer in JMP, YouTube Video on JMP Software Channel
This YouTube video shows how to examine your unstructured text data using JMP Text Explorer. The video uses “Pet Survey” sample data from JMP to show how to analyze free text in surveys and provides an interface for extracting part numbers, words between HTML tags, phone numbers, email addresses, currency and more.
3 Stars Know the Market Research Tools of the Trade, Analytically Speaking
Walter Paczkowski, founder of Data Analytics Corp., discusses how sophisticated market researchers use analytics to make data-driven decisions. He discusses how to use discrete choice modeling for revealing true consumer preferences and how to test different scenarios to identify the best price for a product.
3 Stars Text analysis in the social sciences: A new spectrum of possibilities, JMP Blog
This blog post from Laura Castro-Schilo, a panelist from the webinar, discusses Topic Analysis, which shows an example of analysis of jokes and can be applied to market research.
2 Stars Using Bayesian Methods in Business and Marketing, Analytically Speaking
This webinar with Peter Lenk of the University of Michigan Stephen M. Ross School of Business discusses Bayesian inference and its applications to economics and business, including consumer and market research.
2 Stars Exploring text to see what might happen in the stock market, JMP Blog
This blog post from Peter Hersh is a recommendation from panelist Laura Castro-Schilo. It addresses several of the topics discussed in the webinar. Includes how to pull in unstructured data and use JMP Text Explorer to build models using a stock market example.
