The Bayesian Revolution in Marketing Research
David G. BakkenMarketing Science and Advanced Analytics, Harris Interactive, United States
INTRODUCTION: INFERENCE IN MARKETING RESEARCH
We may not admit to it, but we in the market research industry are engaged in the business of predicting the future. Perhaps more precisely, we practice the art of estimating the probability of future events – most often, the future purchases made by consumers. Clients routinely commission research programs to predict the sales of new products, to identify the advertising message that is most likely to create an emotional connection with a brand, to predict improvements...