Artificial Intelligence Marketing and Predicting Consumer Choice
An Overview of Tools and Techniques
by Steven Struhl
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Pub Date 3 Apr 2017 | Archive Date 4 Jun 2017
Kogan Page Ltd | Kogan Page
Description
The ability to predict consumer choice is a fundamental aspect to success for any business. In the context of artificial intelligence marketing, there are a wide array of predictive analytic techniques available to achieve this purpose, each with its own unique advantages and disadvantages. Artificial Intelligence Marketing and Predicting Consumer Choice serves to integrate these widely disparate approaches, and show the strengths, weaknesses, and best applications of each. It provides a bridge between the person who must apply or learn these problem-solving methods and the community of experts who do the actual analysis. It is also a practical and accessible guide to the many remarkable advances that have been recently made in this fascinating field.
Online resources: bonus chapters on AI, ensembles and neural nets, and finishing experiments, plus single and multiple product simulators.
Available Editions
EDITION | Other Format |
ISBN | 9780749479558 |
PRICE | £26.99 (GBP) |
PAGES | 256 |
Featured Reviews
Very heavy in Statistics. Artificial Intelligence Marketing and predicting consumer Choice by Steven Struhl has academic tendency. It will make a great book for students and learners.
This is a challenging book to review. The information covered reminded me of key research principles and their importance as well as highlighted advances in the field. However, the pacing of the book is pedestrian and the repetition throughout, tiresome. When considering the question "Would I recommend it?" I realised I have several to whom I will recommend this book! One is a friend in need of a grounding in research, as she has no experience. Another is a friend who is completing a doctorate and is reviewing research options. It is well compiled, extensive, easy to understand and interesting. If you pick it up intending to read only those aspects relevant to you, you will thoroughly enjoy the experience.
My favourite quotes include:
"More data of the wrong type actually is bad for you. If you are looking for a needle in a haystack it does not help to have a larger haystack. While it is a worthwhile goal to collect as much data as possible, data quality, and knowing which data will address your needs, remain paramount."
"So why focus groups? Aside from detecting disasters, these groups have several valuable applications. You learn about the language that people use in discussing the product, and in particular the terminology that they can understand."
"Experience shows that, for a reasonably sized experiment, 125 per group you want to measure separately is safe and reliable."
Great tool to develop marketing strategies.
The author's experience and work is extensive, well grounded and has real applications that have been tested for many years. The content of the book is of first quality, very informative and with well explained examples, focused on educating practitioners, students, marketers, in the analysis of the prediction of consumer choices. Understanding how consumers make their choices for different situations involves the use of different methods and strategies that are appropriate for each circumstance.
The value of this book is that it allows an expanded view of the different perspectives, so that a correct planning can be carried out according to each project, applying the appropriate methods for each situation, constructing the models that best fit the target consumer, counting with tools to process and understand the results, apply the results to use them in the best way, for example to choose the best features and setting the best price. All explained in a clear and comprehensive way so that the student understands what works best.
My gratitude to the Publisher and NetGalley for allowing me to review the book
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