How do the Conjoint Models support strategic Marketing decision-making? What are the various statistical steps or analyses approaches to Conjoint Models using the use of formula/graphs to elaborate? Kindly give an example to describe how the Conjoint Models method is applied.

Q: The BIR need to assess a taxpayer for payment of taxes Group of answer choices True False

A: This statement is true because through BIR (Bureau of Internal Revenue) national government collects…

Q: use predictive analytics within their CRM systems to forecast customer behavior and optimize their…

A: CRM (Customer Relationship Management) is a comprehensive strategy and approach aimed at building,…

Q: Can the distinction between descriptive and prescriptive models be made by examining their…

A: Introduction:  Descriptive models aim to describe and explain phenomena as they are or have been…

Q: What are some of the differences between a descriptive model and a prescriptive model?

A: A model is described as a representation of reality abstractly, and it uses predictive power and…

Q: Define the purpose and the research problem statement for ‘What the opinions of consumers on a 10…

A: A research problem is a specific issue, concern, or question that requires investigation and…

Q: What exactly is enterprise data modeling?

A: An Enterprise data model is a visual representation, or graph, of a business enterprise data. It…

Q: Business analytics concepts a)     Data used in business analytics need to be reliable and valid.…

A: In the realm of business analytics, the accuracy and trustworthiness of data are paramount for…

Q: Netflix decided to distribute the show "Orange is the New Black".  This decision was because  the…

A: Data analytics is a process of inspecting, transforming and modelling information. The main goal of…

Q: Research Problem/Question/Hypothesis Write a clear Purpose/Aim and Objectives of the Study.…

A: Statement of the Problem:The issue of increasing environmental degradation because of the…

Q: Using YOUR OWN WORDS, define and explain, with examples, the 4 Scales of Measurements used in…

A: Marketing Research A process that is conducted in a pre-defined manner to know, understand and…

Q: can businesses utilize CRM data analytics for strategic decision-making and marketing campaigns

A: CRM stands for customer relationship management. CRM analytics has been an invaluable tool for…

Q: Summarize the differences between secondary data and primary data

A: Data is becoming more widely accessible to academics worldwide it is crucial for a researcher to…

Q: A bank manager notices that by the time customers get to the teller,they seem irritated and…

A: Customer- A person or organization that buys products or services from another organization is…

Q: How do predictive analytics and data mining contribute to customer relationship management and sales…

A: Forecasting and data mining are powerful tools that contribute to effective customer relationship…

Q: Which best describes the null hypothesis associated with an Analysis of Variance (ANOVA)?   Group of…

A: Which best describes the null hypothesis associated with an Analysis of Variance (ANOVA)?

Q: Explain the concept of slowly changing dimensions (SCDs) and their relevance in data warehousing.…

A: Data warehousing stands as the bedrock of contemporary data administration, a structural masterpiece…

Q: To understand the value of parental involvement in XYZ primary schools, we conducted a survey…

A: Introduction:This examination will focus on evaluating the level of parental participation in XYZ…

Q: What may possibly occur if indexing decisions are made incorrectly?

A: Indexing is a crucial process in information management and retrieval systems. The main purpose of…

Q: How is the exponential smoothing method used to predict future sales?

A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…

Q: Discuss the four major categories of scales that are used in market research and provide an example…

A: Four major categories of scales in market research are: Nominal Scale: It is a size of estimation…

Q: What is the role of data mining and predictive analytics in analytical CRM? Provide examples of how…

A: About CRM -Customer Relationship Management (CRM) is an all-inclusive approach and set of procedures…

Q: What is your opinion regarding PLDT's issues regarding data warehousing and database they are facing…

A: Data warehousing plays a critical role in modern business operations, enabling companies to…

Q: Describe the role of data analytics in CRM and its impact on customer relationship management.

A: Customer Relationship Management (CRM) is an extensive technique and set of practices that…

Q: To carry out their analysis, planning, implementation, and control responsibilities, marketing…

A: A Marketing Information System of a company can be described as a system which interprets the…

Q: Which business research analysis assesses relationships between continuous data outputs and discrete…

A: Research is an organized and planned method of finding answers to the questions. It is a long…

Q: Models

A: Marketing analytics solutions track and evaluate the effectiveness of your marketing initiatives…

Q: What is the role of OLAP (Online Analytical Processing) in data warehousing? How does it enable…

A: Please find the answer below.OLAP (Online Analytical Processing) :- OLAP is a computer-based data…

Q: How does data warehousing contribute to decision support systems (DSS) and business analytics?

A: A data warehouse as the name suggests is a repositary in an organization where all the data is…

Q: Effective marketing research follows the six step shown in Figure 1. Discuss with example every…

A: The act of gathering and analyzing information from customers and competitors is known as marketing…

Q: Why are adjusted ORs more reliable when trying to determine whkther and how a predictor variable is…

A: Anything which changes and is not constant is called as a variable. A variable is characteristic of…

Q: Describe the process for building the customer scoring model. What would be the inputs? What kinds…

A: Customer scoring allows you to categorize and rank your existing customers and prospects based on…

Q: OLAP use in descriptive analytics must be explained.

A: OLAP, or Online Analytical Processing, is a technology that allows users to analyze large amounts of…

Q: What are some of the key distinctions between a descriptive model and a prescriptive model?

A: Marketing research give the advantage to business to know more about the market or industry in which…

Q: Paraphrase this one. Analyze and elaborate in 85 words. Regression analysis data also helps you…

A: Data-driven decision-making refers to the process of using quantitative and qualitative data to…

Q: marketing company is facing some issues with his new marketing strategy since the data he and his…

A: A marketing strategy is described as the overall plan of a business that allows a business to reach…

Q: Identify and discuss the advantages and disadvantages of using existing data for secondary data…

A: Secondary data analysis using existing data which is already available in the record can be defined…

Q: iptive data analytic model? How are the two related or how are they different? Give example of each.

A: productivity analysis and prescriptive data analytic model

Q: Explain the difference between secondary and primary data Explain the advantages and disadvantage of…

A: In order to initiate any project or a product or a marketing campaign, it is important to understand…

Q: Which types of application one can prefer to use Bagging and boosting  methods for predictive…

A: Let’s first understand the concept of what are meant by bagging and boosting methods and predictive…

Q: Assume that a research study included the following question: "Why do you prefer a gasoline powered…

A: Consumer purchase decision is done by various factors which are preferable and of priority to that…

Q: factors influence the choice between using a snowflake schema and a star schema in data warehousing

A: A star schema is a database schema that is used to store data in the form of a star. This schema is…

Market Research Methodology

Market research refers to employing strategies, collecting data, and studying the target audience of a product by an organization. Businesses analyze customer data to figure out consumer trends, improve product design, improve user experience, develop customer-centric marketing campaigns, generate high-quality leads, and boost conversion rates. Phone surveys, test marketing strategies, and focus groups can be used for marketing research.