Market driver analysis and product optimization are one of the central tasks in Product Marketing and thus relevant to virtually all types of businesses. BayesiaLab provides a unified software platform, which can, based on consumer data,
- provide deep understanding of the market preference structure
- directly generate recommendations for prioritized product actions.
The proposed approach utilizes Probabilistic Structural Equation Models (PSEM), based on machine-learned Bayesian networks. PSEMs provide an efficient alternative to Structural Equation Models (SEM), which have been used traditionally in market research.