There is no shortage of information online, particularly on B2B sites like LinkedIn, where exploring the power of conjoint analysis (sometimes referred to as discrete choice analysis) is a common practice when modeling real-world decisions. For example, you can…
- Learn about the joys of hierarchal Bayesian statistics (for those who believe that classical statistics are for wimps)
- Make a tradeoff of your own when considering Adaptive Choice-Based Conjoint, which provides superior pricing sensitivity for complex product designs than standard Choice-Based Conjoint, but at the cost of more wear-and-tear on your brain cells
- Develop the ever-popular Mixed Logit/Random Parameters Logit Models, which of course needs no explanation. Uh huh.
The point is that there is plenty of information out there, with varying degrees of quality, about the intricate labyrinth of conjoint analysis. But what if someone has the simple question, “For cryin’ out loud, can someone please just tell me how conjoint analysis actually works?”
Below is a link to a short conjoint study demo, the kind of discrete choice experiment survey respondents would engage with in market research. You’re invited to try it out for yourself! It will take all of 2 minutes of your time, and if you want to see how your choices stack up against the rest of the world, you’ll have the opportunity to have your results sent to you.
Oh, sorry, did I fail to mention the subject matter? My bad. It’s robot pets. No, I’m serious. See for yourself.