Hybrid BYO Conjoint with Boosting for Data Fusion: Estimating Context Effects for Marketing Dashboards

57 Pages Posted: 1 Jan 2020 Last revised: 2 Sep 2021

See all articles by Ofer Mintz

Ofer Mintz

University of Technology Sydney Business School

Yakov Bart

Northeastern University - D'Amore-McKim School of Business

Peter Lenk

University of Michigan, Stephen M. Ross School of Business

David Reibstein

University of Pennsylvania - Marketing Department

Date Written: September 2021

Abstract

This research combines prior approaches to build-your-own (BYO) conjoint with a data fusion methodology that includes ranking of the selected attributes for different use contexts after constructing the profile. Our joint model uses boosting methods to produce randomly generated latent choice sets for each iteration of the estimation algorithm that integrate the posterior distribution of the parameters over the latent choice sets. The model also accounts for attribute interaction effects and overcomes the curse of large dimensions that often arise in multiple marketing contexts and complicates BYO computation. The empirical application focuses on 563 marketing managers who constructed metrics dashboards for idealized marketing budgetary decisions and ranked the selected metrics for different use contexts. The data fusion allows a more nuanced analysis than just BYO. For instance, the “Tobin’s q” metric is infrequently selected, but highly ranked among the managers who do select it, while the “total customers” metric is frequently selected, but not highly ranked. Thus, the proposed methodology extends BYO conjoint applications to more generalized settings in which marketing researchers commonly elicit individual preferences.

Keywords: menu-based conjoint; data fusion; Bayesian inference; metrics; dashboards; boosting

Suggested Citation

Mintz, Ofer and Bart, Yakov and Lenk, Peter and Reibstein, David, Hybrid BYO Conjoint with Boosting for Data Fusion: Estimating Context Effects for Marketing Dashboards (September 2021). Available at SSRN: https://ssrn.com/abstract=3502600 or http://dx.doi.org/10.2139/ssrn.3502600

Ofer Mintz

University of Technology Sydney Business School ( email )

P.O. Box 123
Broadway, NSW 2007
Australia
0295143481 (Phone)
2007 (Fax)

Yakov Bart (Contact Author)

Northeastern University - D'Amore-McKim School of Business ( email )

Boston, MA 02115
United States

Peter Lenk

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

David Reibstein

University of Pennsylvania - Marketing Department

700 Jon M. Huntsman Hall
3730 Walnut Street
Philadelphia, PA 19104-6340
United States

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