UPCOMING WEBINAR: DIY Data Cleaning & Prep: Super Fast, Super Good An alternative to creating an online choice model simulator is to create what we call an 'Optimizer'. Unlike a simulator, an optimizer allows multiple selections per attribute and generates multiple-preference share combinations at the same time. This article describes how to go from a choice model output created in Displayr:
To a Choice Modeling Optimizer:
An Optimizer works in a similar way to a Choice Model Simulator except you are able to select multiple items within each control box. Instead of only a single set of preference shares for each alternative, the output will return a row for each combination of multiple-selected items per alternative.
Requirements
- A document containing one or more choice model outputs created in Displayr, see How to do the Statistical Analysis of Choice-Based Conjoint Data.
Method
1. Select the choice model output in your Displayr document.
2. From the toolbar menu, select Anything > Advanced Analysis > Choice Modeling > Optimizer.
3. At the next prompt, enter the number of alternatives that you want in the optimizer.
4. At the next prompt, select Yes to include the Alternative attribute and No if you want to exclude it from the optimizer. See How to Read Displayr's Choice Model Output for more information on this attribute.
5. A new page will be created containing the choice model optimizer. It includes combo boxes for each attribute for each alternative, and are setup to have multiple selections. There is also a Calculation output at the bottom that displays a table of the preference shares for each alternative and chosen selections.
6. One specific use case for the optimizer is fixing the options for all but the first alternative where we instead select multiple options for some alternatives. In this example, we have selected all the items in the Weight attribute and the highest 2 items in the Price attribute to generate the 8 combinations of preference shares. You can compare these preference shares to understand what scenario might be preferable.
7. [Optional]: You can then customize all the various components of the simulator by clicking on them to modify. Options for the combo box controls are in their object inspector > Control > Item list. The appearance of all the outputs can be customized in the Appearance > APPEARANCE section. Click here for an example.
Next
How to Create an Online Choice Optimizer By Hand
How to Create a Choice Model Simulator
How to Adjust A Choice Model Simulator to Better Predict Market Share
How to Compare Multiple Choice Models
How to do the Statistical Analysis of Choice-Based Conjoint Data