Price/Advertising Modelling
Paul BakerOHAL
Introduction
In order to understand brands and markets (statistically) there are four main ingredients. These are statistical theory (which has consistently been ahead of the other three), computing power (catching up fast), data quantity and quality, and good models. It is on the last two that this paper concentrates. The movement to scanning data is very exciting in the insights that it gives to markets and it also enables a wide Paul Baker range of hypotheses to be tested. It is these hypotheses that need to be very precisely modelled...