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Latent Cluster Modeling – An Intuitive Overview

Latent Cluster Modeling – An Intuitive Overview

Over the last twenty years or so, latent class modeling has replaced hierarchical cluster modeling as the go-to methodology for market segmentation studies. The reasons for this are many: the ability to include variables of differing scales, the availability of clear...
There’s a fly in my MaxDiff!

There’s a fly in my MaxDiff!

Back in the grunge era, I was fresh out of graduate school, bristling with all kinds of technical knowledge gathered from doctoral coursework in econometrics, multivariate statistics and marketing models and itching to apply it all in my first job as a marketing...
Does your data spark joy?

Does your data spark joy?

(Else, bury it) As market researchers, data is our stock in trade. We spend our days thinking about how to collect data, how to analyze it, how to interpret it and how to report it. Data is what we do and we hate to discard any piece of information once we have gone...