1. Business Economics
Econometrics for Marketing
Overview  The user can experiment with lagged
Econometrics is one of the key techniques variables, differences, logs, etc.
used to provide analytical support in the field without re-defining the model
of marketing. However, traditional approaches  Built-in transformations to enable
typically involve considerable effort in data diminishing returns curves to be
manipulation, model development and report included in linear regression models
preparation. The net effect is to push up the  The ability to generate new variables
cost per model produced. “on-the-fly” without having to calculate
separate data series
For this reason, Business Economics Limited  Automated production of reports and
has developed the StatsPro econometrics charts on predicted versus actual
software package designed specifically to values, residuals, decomposition and
make the use of econometrics in marketing as waterfalls for all model types, including
streamlined and efficient as possible. log and difference models
 A highly intuitive and visual approach
to system models
The above chart, taken from a typical modelling study,
shows an automatically-generated decomposition chart in
which the relative impact of the various key drivers can be
assessed.
The above chart, also generated automatically by the
system, shows the same information as that in the chart
What does StatsPro do? opposite but highlights the year-on-year changes.
StatsPro provides a quick and easy platform
for a range of regression analyses, including: How is StatsPro used?
StatsPro is currently available on two main
 Advertising effectiveness platforms.
 Price and promotional analysis
 Demand forecasting  For generic econometric modelling,
 Propensity analysis StatsPro would normally be used an
add-in to Microsoft Excel as this
It is a general econometrics package and provides a flexible and highly
contains a range of standard regression responsive modelling tool
models but, in order to deliver fast and well-  Alternatively, the kernel of the
formed models, it also contains a number of regression system can be used as a
special productivity features as follows: DLL in a bespoke econometrics
modelling solution for specific
 A quick and easy method of including applications.
or omitting variables, or fixing their
coefficients
To find out more contact David Merrick at Business Economics Limited on 07714 456068 or
david@BizEcon.com