Of the many discrete-choice modeling techniques, Statistical Innovations' Latent GOLD Choice has become a popular option. The technique presumes that respondents have varying preferences for a given set of choices presented to them. These differences can be described in terms of groups, within which respondents share common preferences, but only within the group. Each group's preferences differ from those in all other groups.
When models are estimated using Latent GOLD Choice, the output consists of group assignments, among other things. Users often want to describe these groups in marketing terms, because such groups can serve as useful, actionable market segments.
That's where the Latent GOLD Format Wizard comes in. The Wizard takes output from Latent GOLD Choice, reads it into an Excel spreadsheet (a useful feature in its own right), then produces helpful charts and formatting that facilitate the characterization of market segments.
Format Wizard Benefits
- Improves interpretation of latent segments
- Charts help explain results to management
- Data can be easily ported to other applications
Format Wizard Features
- Reads Latent GOLD output into Excel
- Color-codes choice, cluster, DFactor and regression models for easy interpretation
- Constructs charts for BIC, profiles and variable importance
- Prepares data for StatWizards' Discrete-Choice Suit