Business Intelligence

Q&A With Tim Gilbride: What Do Consumers Really Want?

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Executive Summary

When it comes to marketing, companies are always looking for ways to reach the right customers and waste less money on people who aren't interested. The author uses mathematics and statistics to help companies understand their customers. Oftentimes, theories of how people behave can be represented by mathematical formulas; for instance, how product features and prices relate to consumer choices. To test those theories, the author uses statistical models that combine the mathematical formulas of how one think people behave with data showing their actual behavior.

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