A Way to Better Targeting Simply put, segmentation means dividing a our targeted customers into groups with distinct characteristics, so...

What Should We Do with Extreme Values? Every time we ask for a numerical response like income, expenditure, consumption, etc., and allow...

How Do We Know Who the Competitors Are? In business context, we can define competitors as brands with which we compete in the market....

On the Example of A/B Testing We frequently hear that a result is "statistically significant." But, what does that mean? Can we explain...

How Can We Learn Anything about the Whole Country by Asking Only 1000 People? Almost all adults have experienced voting. Based on that...

How Large Should My Sample Be? In the first post about sampling, we talked about what a sample is, how it relates to the population, and...

Sampling In Practice In Part 1 and Part 2 of the series on sampling, we talked a lot about the theory. Now, it’s time to put it into...

Which Features Are Important And Which Not So Much? When we develop a product or a service, we face many trade-offs. We have to decide...

Brand Image Mapping Most brand managers know what their brands stand for and how they want to position them among the competitors....