A recent study, published in the International Journal of Frontiers in Engineering and Technology Research by Oloruntosin Tolulope Joel and Vincent Ugochukwu Oguanobi, explores how businesses can harness the power of predictive analytics to improve profitability and identify new opportunities for expansion.
Unleashing business growth through predictive analytics: a data-driven approach Read More »
At a time when data is at the heart of decision-making in many sectors, the importance of statistical analysis tools has never been greater.
Whether to assess market trends, improve business operations or advance scientific research, understanding and applying statistical techniques helps to make sense of complex data sets.
But what are the essential tools of statistical analysis today?
This article explores some of the most important tools and software on which statisticians and data analysts rely.
The essential tools of statistical analysis: A guide to modern data interpretation Read More »
The Bass diffusion model predicts the timing of new product purchases by assuming that the probability of purchase depends on the number of previous buyers.
It uses coefficients for innovative and imitative behavior to predict the adoption of consumer durables, among other products.
Innovation coefficient
(p): Represents the influence of external factors on product adoption.
Imitation coefficient
(q) : Represents the influence of previous adopters on potential adopters.
Total potential market (m): The total number of potential adopters of the product.
Bass Model Forecast Read More »
Introduction In marketing, models are essential tools for understanding, predicting and optimizing the impact of marketing actions on business results.
Model and Response Function Read More »
The Brand Development Index (BDI) is an indicator that measures a brand’s relative performance in a particular market segment (e.g., geographic region, demographic group, or other segmentation criteria).
It enables this performance to be compared with the brand’s overall performance in the market as a whole.
Brand Development Index (BDI) Read More »
The BEI, or Brand Equity Index, is an indicator that measures the perceived value of a brand by consumers.
This index is particularly useful for comparing several brands with each other, or for evaluating a brand within a portfolio of brands.
Brand Equity Index (BEI) Read More »
