ADA Network: Utilising Advanced Conjoint Methods for Volumetric Analysis

We would like to welcome you back to MRS HQ with our first in-person ADA network event since 2019!

MRS recognises that data analytics promises a bolder, faster, more creative way to deliver insight. To support the growth in data analytics, MRS will be launching a new Data Analytics Council, which as part of the vast array of product and services already on offer, will help businesses build knowledge, connections and broader skills enabling them to deliver insightful analytics. Join the Chair of the council Jake Steadman and MRS MD Debrah Harding to find out more about this important initiative.

Please note that this is a face-to-face event.

This will then be followed by an in depth look at conjoint analysis methods with Chris Moore, Deputy Head of Advanced Analytics and Data Science, Ipsos and Dean Tindall, Director of Client Services, Sawtooth Software Europe. 

Conjoint analysis is a form of choice modelling that is commonly used to optimise the configuration and pricing of products/services in a competitive environment. In most forms of choice modelling, we ask respondents to select their most preferred product or concept, but it is often the case that respondents can select multiple products i.e. volumetric conjoint.

This talk will give a brief overview of what conjoint is, discuss some of the issues when modelling volumetric conjoint, methods for overcoming these issues and introduce a method called Menu Based Choice (MBC) as a method for measuring volume. The talk will finish with a case study that shows a real-world example of how MBC was used to optimise the pricing of a restaurant menu and using client internal data we were able to show how the MBC analysis increased financial metrics such as profit.

Join us for a glass of wine or soft drink and discuss and debate with peers.