Using Big Data in the Marketing Research Industry
The availability of big data marks the start of a revolution in how marketers can leverage available information to increase the return on investment of their marketing decisions. However, harnessing the power of big data can feel overwhelming – leaving many marketers ambitious to take the plunge but unsure exactly where to jump in. While strides have been made in the application of big data to political polling and loyalty research, we are still searching for revelations in the arena of innovation research. Our presentation will focus on one revelation on how we can apply big data to innovation research: the fusion of predictive analytics and text analytics to predict new product success.
Jason Karpeles is Vice President at Ipsos InnoQuest where he specializes in new product forecasting and model development. With over 20 years of experience Jason has developed several new product forecasting models at The NPD Group, M/A/R/C Research and Market Facts, including a new product simulator specifically designed to offer an easy interface and deliver user-friendly results; a network simulator that uses attributes to generate forecasts; and a validated automotive forecasting model (which involved a partnership with Nissan and Ford to do validations on over 40 car clinics). Jason has a Master’s Degree in Economics from NYU, an MBA from Duke University and a BA in Economics from University of California, Davis.
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