- About Us
- Insight by Design
- Knowledge Center
There is wide variation in the relevance and usability of insights generated from conjoint analysis. In this webinar, we’ll briefly review the basic ideas of conjoint analysis and then cover several best practices that are essential for getting true value from conjoint analysis.
It’s easy to understand that new products must meet customer needs to be successful. Identifying unmet needs is often the first step in determining what products should be developed. As a next step, it is imperative to prioritize which product attributes will ultimately lead to adoption. In this webinar, we will demonstrate the use of discrete choice modeling to optimize clinical trial design by prioritizing which aspects of product attributes are most impactful to customers. We will present two case studies showing how choice-based conjoint techniques can be used in both pharmaceutical and medical device markets.
The advent of online research, in particular, online panels, promised to make very large samples affordable. Alas—while online panels have driven down CPI, small samples are commonplace, especially for B2B and healthcare research. In this webinar we share the results of an experiment we conducted to explore the impact of small samples on our ability to make inferences that guide decision-making. We show what happens to the stability of a discrete choice model as sample size decreases from about 400 to as low as 25, and we show how applying Bayes’ rule can help us make better decisions using data from small samples.