Over the last few years we have wondered whether spreadsheet software like Excel will soon make statistics software like SPSS or SAS obsolete. Spreadsheets have amazingly powerful and often intuitive capabilities. They have many of the statistical functions we use every day. Younger people entering our profession rarely know programs like SPSS or SAS, and…
MaxDiff is a powerful method and it is increasingly popular among market researchers. But it is not always the best choice for measuring the importance of attributes, and here’s why. Suppose you want to measure the importance of 12 attributes for a new product or service. If you know ahead of time that consumers are…
Earlier this month Arthur C. Nielsen, Jr. died. He left behind a giant and reputable market research company and a brand name recognized throughout the world. The A.C. Nielsen company was started by his father and in its early years tracked the sales of goods through grocery and drug stores. The company then moved into…
Many of us have uneasy feelings when reading statistics that presumably apply to ourselves and our own lives. Often the statistics do not seem to “fit” and seem to misrepresent the lives of real people from which the statistics are derived. It is with good reason that we chuckle when someone tells us that the…
MaxDiff is a survey method used to measure the importance of product features. Subsets of features are presented, and respondents are asked to select which feature is most important and which feature is least important. Its advantage over other techniques is that by forcing a choice from among multiple features, it more strongly differentiates the…
The hardest part of quantitative market research is not that it involves numbers, math, or even statistics, but that it involves complex problems in probability. Over the past several years, psychologists have been documenting how difficult it is for us humans to solve even “simple” probability problems. One fascinating example is a puzzle known as…
An issue we continually struggle with at Versta Research is how to automate the research process and leverage new technologies without losing the essence of what good research does. Good research does not report data, build charts, or generate dashboards. It learns, answers new questions, interprets data, and helps users focus on information and findings…
How statistics are calculated and presented has a huge effect on how audiences interpret information and make decisions. A recent study about medical decisions based on drug efficacy data highlights the critical importance of how you turn your data into stories, no matter what industry. The research shows that different stories, all of them true…
Versta Research just hit a magic number: 100. That’s the number of articles we have written to help our clients and their colleagues keep abreast of important trends in market research. If your market research supplier is not providing ongoing thought leadership in design, methods, and analytics, then what are the chances they are bringing…
We like this cartoon because it highlights the unrealized potential of really smart research, but also the potential perils of research gone bad. The cartoon brings to mind three lessons worth pondering: Customer satisfaction research is often “not fun”—but it can be Internal data can be a goldmine of insight and there is often a…