L57: Conjoint analysis using a statistical method

Welcome to Lecture 57 of the course "Business Analytics" by Prof. Rahul R Marathe. Full Course: https://study.iitm.ac.in/ds/course_pages/BSMS2002.html Video Overview This lecture explores conjoint analysis using a statistical approach based on linear regression. You will learn how to apply regression techniques when working with categorical product attributes and consumer preference ratings. The session covers how to properly code your data, address multicollinearity issues, and interpret regression coefficients as part worth utilities. A practical example featuring cell phone features such as brand, battery life, and camera quality illustrates the entire process. This lecture is ideal for those interested in understanding consumer preferences and making data-driven marketing and product decisions. About IIT Madras' online Bachelor of Science programme IIT Madras offers four-year BS programmes that aim to provide quality education to all, irrespective of age, educational background, or location. The BS programme has multiple levels, which provide flexibility to students to exit at any of these levels. Depending on the courses completed and credits earned, the learner can receive a Foundation Certificate from IITM CODE (Centre for Outreach and Digital Education), Diploma(s) from IIT Madras, or BSc/BS Degrees from IIT Madras. For more details, Visit: https://www.iitm.ac.in/academics/study-at-iitm/non-campus-bs-programmes #ConjointAnalysis #LinearRegression #StatisticalModeling #MarketResearch #ConsumerPreferences #PartWorthUtility #CategoricalData #RegressionAnalysis #MarketingAnalytics #ProductDevelopment #Multicollinearity #AttributeLevels #RatingScale #ProductFeatures #ConsumerInsights #ChoiceModeling #QuantitativeMarketing #AppliedAnalytics #MarketingScience #SurveyDataAnalysis #ProductMarketing #CustomerPreferences #AnalyticsForBusiness #PredictiveAnalytics