It is a new year which also means it is time for us to visit new events. And the first one on our list is The Quirk’s Event London.
Together with Dynata, we will be there to share our newest creation: An intelligent algorithm for efficient concept testing.
When talking about concept and name testing a monadic design is the gold standard. However, even the gold standard has its flaws. While monadic designs offer a realistic testing situation, they are inefficient when it comes to distributing sample, especially if you want to know more about the most promising concepts. They require a lot of sample, especially if many concepts are being tested, making them cost-intense and time-consuming.
Our self-learning algorithm can change that! The algorithm was created in an iterative process to bring best possible results. It was tested in a pilot study together with Dynata and programming support from FocusVision Decipher. We were able to show that the intelligent algorithm enables easier, more efficient and cost reducing concept and naming tests.
The algorithm is based on principles of the Bayesian Bandit. During field it learns which concepts are more promising based on answers provided so far and distributes further respondents to more promising concepts adaptively and in real-time.
This year will be the first time that the Quirk’s Event takes place in Europe and we won’t miss it.
And you shouldn’t either!
On February 12th at 9:15, look for Room 3 where Nadja and Graham will tell you more about the topic!