Conjoint analyses are a statistical method for measuring people's preferences regarding various attributes of a product or service. This method is often used in market research to understand how consumers make decisions and which features of a product or service they prefer.
Typical functions of software in the field of conjoint analyses include:
Design and Conduct of Experiments: The software allows for designing and conducting various experiments to determine participants' preferences.
Setting Attributes and Levels: Users can define the attributes and their respective levels to be considered in the analysis, which may include features such as color, price, size, etc.
Data Collection and Analysis: The software assists in data collection and analysis, including processing the preference data provided by participants.
Preference Modeling: Models are created to quantify participants' preferences and make predictions about how they will respond to different product configurations.
Results Visualization: The software provides tools for visualizing analysis results, such as graphs or reports, to gain insights into the preferences of the target audience.