First Analytics will be co-presenting with Land-O-Lakes at the upcoming Institute of Business Forecasting Predictive Analytics and Forecasting conference. The event will be held in New Orleans, April 25th through 27th, 2023.
We will discuss a model that has its roots going back decades, to the original consumer choice models. But this modern version is built on syndicated scanner data, such as those provided by IRI or Nielsen. The model estimates how consumers value attributes of a product, versus a particular SKU as a whole. A SKU can be defined by its attributes such as brand, size, flavor, form, etc. Once the model quantifies these part-worths of the components, they can be recombined to make predictions. For example, forecasts can be made for imitative line extensions that currently do not exist. The model can also be used for SKU rationalization and optimization, and category management.
We encourage you to register and come see our presentation, along with many fine others. If you are unable to attend, we may be able to arrange a “command performance” for you.” Please contact us if interested.
We hope to see you in New Orleans!