Building Predictive Models for Market Research Using Machine Learning

Abstract

Abstract: This paper describes the implications of using Machine Learning as a key facet of the methodology in Market Research. With the advent of machine learning and collection of large data sets by service providers, there is a dearth of observational and insightful knowledge of these data pools. Machine Learning and Advanced Quantitative Research are the most common methodologies around that are applied with the appropriate qualitative insights as a concomitant to establish an observational context and gain deeper insights in Market Trends. Several Market Research projects include demand estimation, forecasting models, choice modelling, conjoint studies are which are achieved using Machine Learning.