PrefSolve™: The Core Decision Support Tool that Undergirds Our Strategic Approach to a Wide Range of Business Issues.
Our Approach to New Product Design
 

To develop a comprehensive new product entry strategy requires two components. First, we must precisely measure customers' buyer values using some type of conjoint or discrete choice design. To get these precise measures, we have developed a proprietary conjoint analysis survey software system. Our system, Modified Orthogonal Pairwise Trade-off (MOPT) builds on traditional adaptive partial profile methods by presenting fewer "wasted" pairs, and allowing more concept calibration questions. This translates to predicting more real-world behaviors like dollar volume opportunity, purchase likelihood, sales volume, cross-sell, and balance increase.

 
Second, we have developed an advanced conjoint calculation and simulation modeling tool, PrefSolve™. There are over a dozen key quantitative techniques used in PrefSolve™ (see the feature set document below). We will highlight only three. First, PrefSolve™ finds the optimal utility set (the set of importance scores for each respondent) that best predicts real world behaviors such as sales). The quantitative technique we use to converge on the optimal utility set is our Multi-Algorithm, Multi-Parameter Optimization (MAMPO) protocol. MAMPO finds the technical utility settings that maximize fit between what the respondents say they will do and what the simulator projects they will do.
 
Additionally, the simulators produce more real-world outcomes than current generation simulators, including switching, sales, likelihood of purchase, customer retention, and revenue. Lastly, PrefSolve™ simulators can be operated in goal-solving mode. That is, they find strategies automatically by finding combination of attributes (pricing, convenience, service, delivery, etc.) to achieve a given desired outcome (e.g., maximizing unit sales at the lowest cost to implement.)

Phone: (630) 428-1847    Fax: (630) 729-3183  Email: info@decisionsupportsciences.com