Simulator Wizard

Building a discrete-choice model is generally not the final step in a typical engagement.  Most researchers convert a model into a simulator. This powerful tool allows marketers to configure a marketplace with various products, then assess which products might attract the greatest potential share.  Normally building a simulator is a time-consuming and tedious process, taking as much as a week.  The Simulator Wizard completely automates this process, taking the output from most discrete-choice estimation programs and creating an Excel-based simulator in seconds. 

Calculations for:

  • Diffusion
  • Relative importance of attributes
  • Importance of levels within attributes
  • Willingness to pay
  • Projected market share and revenues

In 60 seconds!

  • Simulator Wizard : Format Your Data From This
  • To This
  • And This

Simulator Wizard Benefits

  • Translates esoteric statistical output into a form that product managers can use to make critical decisions
  • Gives managers a powerful tool for pricing and positioning their product or service in a competitive marketplace
  • Use of Excel allows extensive customization to suit individual requirements
  • Typically pays for itself in one project
  • Automatic calculation of key measures such as price elasticity and best product save considerable time

Simulator Wizard Features

General features

  • Quickly builds an Excel-based market simulator that non-technicians can use
  • Reads all major types of statistical output files directly; no transcription required
  • Makes us of Design Wizard and Data Wizard workbooks, if available
  • Inputs and outputs appear on the same screen; no scrolling is necessary
  • Marketplace is entered with drop-down lists; market share appears instantaneously
  • Instructions for use appear in comments
  • Track Changes button facilitates scenario comparison
  • Ability to analyze sub-segments of the population
  • Calculates potential market share, sales and revenue

Reads output from popular estimation packages

  • Latent Gold Choice
  • Kenneth Train's Mixed Logit routines in Gauss
  • Limdep NLOGIT
  • Sawtooth Software's CBC/HB
  • Biogeme
  • XlStat's Conjoint program
  • R's mlogit library
  • R's RSGHB library

Support for complex specifications

  • Nested logit models
  • Latent-class choice models
  • Revealed-preference models
  • Mixed-logit / Random-parameters models
  • Hierarchical-Bayes models

Automatic re-weighting of survey data

  • Census variables are automatically detected
  • Census data tables and re-weighting cells are automatically added to the simulator
  • As an option, the Wizard will automatically weight results to the most recent Census tables
  • Include your own weights or choose not to weigh

Included Census tables

  • Age and income for households
  • Age, gender, income and education for persons
  • Age, marital status and number of children for families
  • Revenue and employees for businesses
  • Age and gender for US, Australia, UK, France, Germany, Italy and Spain

Special features

  • Diffusion model forecasts adoption over time
  • Price curves sheet generates demand curves and market share charts
  • Feature importance sheet calculates elasticities, relative importance and willingness to pay
  • Scenario saver sheet stores marketplace scenarios
  • One-click optimization of product offering in a competitive setting

Extensibility

  • Using Excel as a platform facilitates incorporation of external data or analysis
  • A button click instantly adds formulas for fixed costs, variable costs and unit profit

 

Purchase comes with a half-day of consulting, which can be used for customization.