Abstract
Market research is generally performed by surveying a representative sample of customers with questions that include contexts such as psychographics, demographics, attitude, and product preferences. Survey responses are used to segment the customers into various groups that are useful for targeted marketing and communication. Reducing the number of questions asked to the customer has utility for businesses to scale the market research to a large number of customers. In this work, we model this task using Bayesian networks. We demonstrate the effectiveness of our approach using an example market segmentation of broadband customers.
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Notes
- 1.
Ipsos and TNS are well-known market research experts in the industry.
Abbreviations
- AIC:
-
Akaike information criterion
- B2C:
-
Business to customer
- BIC:
-
Bayesian information criterion
- BN:
-
Bayesian network
- DAG:
-
Directed acyclic graph
- ISP:
-
Internet service provider
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Acknowledgments
We thank Prasad Garigipati, Henrik Palson, Andreas Timglas, and Roy Ollila for their help and support. Both the authors were introduced to the area of Market Research during their tenure at Xoanon Analytics. The value in asking fewer questions in a Market Research Survey was recognized by the authors based on their practical experience.
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Umaashankar, V., Girish Shanmugam, S. (2020). Ask Less: Scale Market Research Without Annoying Your Customers. In: Kumar, L., Jayashree, L., Manimegalai, R. (eds) Proceedings of International Conference on Artificial Intelligence, Smart Grid and Smart City Applications. AISGSC 2019 2019. Springer, Cham. https://doi.org/10.1007/978-3-030-24051-6_56
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DOI: https://doi.org/10.1007/978-3-030-24051-6_56
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