Optimizing Retail Sales at the Eeylops Owl Emporium in Harry Potter Using Choice Models in JMP ®
Sep 7, 2017 1:16 PM
Sean Schubert, Senior Program Manager, Sherwin-Williams
Discrete choice models are a powerful way to discover consumer preferences. By systematically changing attribute combinations, JMP helps us optimize potential sales of a new product. The Choice Model platform can also be used to optimize product lineups in a retail setting. In this breakout session, we will walk through the mechanics of setting up and analyzing a choice survey focused on increasing sales for retail stores. Additional topics will include model calibration, customer segmentation and market simulation.