Top 6 Conjoint Analysis Software
Conjoint analysis, is a statistical technique that is used in surveys, often on marketing, product management, and operations research. Conjoint analysis is also called multi-attribute compositional models or stated preference analysis and is a particular application of regression analysis. Conjoint analysis requires research participants to make a series of trade-offs.
Analysis of these trade-offs will reveal the relative importance of component attributes. To improve the predictive ability of this analysis, research participants should be grouped into similar segments based on objectives, values and/or other factors. Analysis is generally carried out with some form of multiple regression, the use of enables fairly robust statistical models of individual respondent decision behavior.
Example of Conjoint Analysis Software: Conjoint.ly, 1000Minds, Survey Analytics, Lighthouse Studio, Package ‘support.CEs’ are some of the Top Conjoint Analysis Software.
What are Conjoint Analysis Software
Conjoint Analysis Software uses statistical technique to determine how people value different attributes such as feature, function, benefits that make up an individual product or service.The objective of conjoint analysis is to determine what combination of a limited number of attributes is most influential on respondent choice or decision making.
Top Conjoint Analysis Software
Conjoint.ly helps managers understand what drives customer behaviour through surveys that simulate the act of purchasing (or any other type of choice-making). It offers a complete online solution from experiment set-up to data analysis and presentation of reports on marginal willingness to pay, market share simulation, segmentation, and more. Conjoint.ly uses discrete choice experimentation, which is sometimes referred to as choice-based conjoint. DCE is a more robust technique consistent with random utility theory and has been proven to simulate customers’ actual behaviour in the marketplace (Louviere, Flynn & Carson, 2010 cover this topic in detail). However, the output on relative…
Easy experimental design tool, including advanced conjoint design settings,
Automated participant management (including sample size calculation and reminders for respondents),
Segmentation of customer base based on revealed preferences from Hierarchical Bayes modelling,
Export of findings into PowerPoint and Excel, including market simulation modelling,
Survey customisations, including profiling questions, redirects, survey logic, mobile-ready templates.
USD1,000 per generic conjoint experiment (most common type of discrete choice experiments), USD3,000 for alternative-specific ("brand-specific") experiment, completely free for students and academics
1000Minds decision-making software is for prioritization, group decision-making, conjoint analysis and maximizing value for money. 1000Minds helps businesses make better decisions, saving time and money, improving business performance and maximizing value from investments. 1000Minds decision-making software (web-based) helps you make well-informed, rational decisions. The decision models are fast and transparent.1000Minds helps organisations prioritize alternatives or individuals (eg. patients for treatment) in a consistent, fair and defensible manner.Three elements are fundamental to most 1000Minds applications: Alternatives (or individuals) being considered by decision-makers, Criteria by which the alternatives are compared and Weights representing the relative importance of the criteria. 1000Minds applies our…
Value for money
The Survey analytics enterprise feedback platform is an effective way of managing feedback from clients over the internet. Using this platform, surveys of all magnitude and complexity can be efficiently carried out based on a company's terms. The platform offers a unique software called the survey analytics suite, the survey suite comes with quite a number of vital analytic tools essential for conducting surveys and managing email invites. Not only is it secure, it is relatively affordable, as its design and structure were built on stiff reliability and affordability. It offers exclusive security, far more secure than the regular/average internet…
Max Diff Analysis
Free Enterprise Evaluation License, Never expires, upgrade anytime
Lighthouse studio is a well-known system for conducting quantitative research, the software was designed and built to successfully manage surveys and other data related analytics, to determine the magnitude and effect of a given product or service. A service that can be used to determine how effective or acceptable an existing product have been; or, how a to-be-released product will have a positive influence on the populace. The lighthouse studio boast of robust conjoint modules such as the Choice-Based Conjoint; Best/Worst Scaling (Max Diff): An established way for collecting scores of objects, based on preferences. Conjoint analysis and Maxdiff are…
General Computer Interviewing
Conjoint Value Analysis
Randomization of blocks, pages, questions, and response options
Constructed (dynamic) lists
Loop through a set of questions for each item in a list
Foreign language character support
Free limited trial version; Visit website to subscribe for either the suite, component or Academic packages.
Package Support.CEs fundamental functions provide a supplementary and supportive aid to choice supports implementation by moving choice experiments from concept to reality. Seven essential functions are included in the package support.CEs viz: two functions that offer simple approach to deciding and choosing a specifically optimized design with simple to compound factors via the basic information for orthogonal main effects design. Array needed to generate designs can be selected upon request; multiple designs and randomly generated design can all be accessed. With this module, Choice experiment design can be converted into questionnaire format and binary choice model analysis, using the function…
McFadden R square
Conditional Logit Model
Generalized Linear Model
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