Discrete Choice Modeling and Conjoint Analysis

Discrete Choice Modeling and Conjoint Analysis

This course will teach you to design appropriate conjoint and choice studies using surveys, panels, designed experiments, be able to analyze and interpret the resulting data.

This course will teach you to design appropriate conjoint and choice studies using surveys, panels, designed experiments, be able to analyze and interpret the resulting data.

$999 | Enroll Now
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Overview

Conjoint analysis is a marketing research technique that asks respondents to rank, rate, or choose among multiple products or services. In this course you will learn statistical techniques that address questions where each product is described using multiple characteristics. Students will learn how to use experimental designs to manipulate the appearance of attribute levels in product concepts. Then, after the data are collected, they will use statistical methods to infer how product attribute levels drive preference or choice, and use the results to model how the market would choose among a set of competing product alternatives.

Intermediate/Advanced Level
4-Week Course
100% Online Courses
CAP Credit Eligible
Expert Instructors
Teacher Assistant Support
Tution-Back Guarantee

Learning Outcomes

Students who complete this course will learn fundamental concepts of conjoint analysis. Topics include: designing conjoint and choice studies; conjoint analysis of rank data; and introduction to the multinomial logit model.

  • Design experiments to manipulate the appearance of attribute levels in product concepts.
  • Use the resulting data to infer how the product attribute levels drive preference or choice.
  • Fit a model to the data to predict how the market would choose among a set of competing product alternatives

Who Should Take This Course

Market researchers and consultants, analysts studying corporate strategy.

Instructors

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Dr. Anthony Babinec

Mr. Anthony Babinec

Anthony Babinec is the President of AB Analytics. For over two decades, Tony Babinec has specialized in the application of statistical and data mining methods to the solution of business problems. Before forming AB Analytics, Babinec was Director of Advanced Products Marketing at SPSS; he worked on the marketing of Clementine and introduced CHAID, neural nets and other advanced technologies to SPSS users. He is on the Board of Directors of the Chicago Chapter of the American Statistical Association, where he has held various offices including President.

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Course Syllabus

Week 1

Fundamental Concepts

  • Ranks, ratings, choices
  • Random utility models

Week 2

Designing Conjoint and Choice Studies

  • Samples
  • Surveys
  • Panel data
  • Criteria for obtaining better designs

Week 3

Conjoint Analysis of Rank Data

  • Conjoint analysis of rank and ratings
  • Conjoint simulation

Week 4

Introduction to the Multinomial Logit Model

  • Multinomial logit model
  • Maximum likelihood estimation
  • Extensions to the basic model

Class Dates

2023

Aug 25, 2023 to Sep 22, 2023

2024

Aug 23, 2024 to Sep 20, 2024

2025

Aug 22, 2025 to Sep 19, 2025

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Prerequisites

Participants should have some familiarity with statistical modeling techniques (e.g. regression).

Recommended

We recommend, but do not require as eligibility to enroll in this course, an understanding of the material covered in these following courses.

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Regression Analysis

Regression Analysis

This course will teach you how multiple linear regression models are derived, assumptions in the models, how to test whether data meets assumptions, and develop strategies for building and understanding useful models.
Topic: Statistics, Statistical Modeling | Skill: Intermediate | Credit Options: ACE, CAP, CEU
Class Start Dates: May 5, 2023, Oct 13, 2023, Jan 12, 2024

What Our Students Say​

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I will be working a lot creating customized plots and graphics for reports. This class was crucial for my understanding of graphics in R and how to fully customize the output. Thank you so much, this was truly an amazing course and helped out a lot. Well done!

Josh Paulson
Investment Analytst, Claragh Mountain Investments LP
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I feel this class gave me a much better understanding of how to design experiments and enhanced my statistical vocabulary. One thing I liked about Mr. Babinec's approach was that his written explanations were precise. Once I read and comprehended them, they really helped break down what I was reading in the text that was more understandable, especially by comparing/contrasting terms. Overall, I enjoyed the class and it was well worth the time spent.

Bryan LeRette
Senior Market Research Analyst - Strategy & Planning, Mosaic Life Care
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Frequently Asked Questions

Can I transfer or withdraw from a course?

We have a flexible transfer and withdrawal policy that recognizes circumstances may arise to prevent you from taking a course as planned. You may transfer or withdraw from a course under certain conditions.
  • Students are entitled to a full refund if a course they are registered for is canceled.
  • You can transfer your tuition to another course at any time prior to the course start date or the drop date, however a transfer is not permitted after the drop date.
  • Withdrawals on or after the first day of class are entitled to a percentage refund of tuition.
Please see this page for more information.

Who are the instructors at the Institute?

The Institute has more than 60 instructors who are recruited based on their expertise in various areas in statistics. Our faculty members are:

  • Authors of well-regarded texts in their area;
  • Advisory board members;
  • Senior faculty; and
  • Educators who have made important contributions to the field of statistics or online education in statistics.

The majority of our instructors have more than five years of teaching experience online at the Institute.

Please visit our faculty page for more information on each instructor at The Institute for Statistics Education.

Please see our knowledge center for more information.

What type of courses does the Institute offer?

The Institute offers approximately 80 courses each year. Topics include basic survey courses for novices, a full sequence of introductory statistics courses, bridge courses to more advanced topics. Our courses cover a range of topics including biostatistics, research statistics, data mining, business analytics, survey statistics, and environmental statistics.

Please see our course search or knowledge center for more information.

Do your courses have for-credit options?

Our courses have several for-credit options:

  • Continuing education units (CEU)
  • College credit through The American Council on Education (ACE CREDIT)
  • Course credits that are transferable to the INFORMS Certified Analytics Professional (CAP®)

Please see our knowledge center for more information.

Is the Institute for Statistics Education certified?

The Institute for Statistics Education is certified to operate by the State Council of Higher Education for Virginia (SCHEV). For more information visit: https://www.schev.edu/

Please see our knowledge center for more information.

Visit our knowledge base and learn more.

FAQs + Knowledge Base

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Additional Course Information

Organization of Course

This course takes place online at The Institute for 4 weeks. During each course week, you participate at times of your own choosing – there are no set times when you must be online. Course participants will be given access to a private discussion board. In class discussions led by the instructor, you can post questions, seek clarification, and interact with your fellow students and the instructor.

At the beginning of each week, you receive the relevant material, in addition to answers to exercises from the previous session. During the week, you are expected to go over the course materials, work through exercises, and submit answers. Discussion among participants is encouraged. The instructor will provide answers and comments, and at the end of the week, you will receive individual feedback on your homework answers.

Time Requirements

This is a 4-week course requiring 10-15 hours per week of review and study, at times of your choosing.

Homework

Homework in this course consists of short answer questions to test concepts and guided data analysis problems using software.

Guided data modeling problems using software

In addition to assigned readings, this course also has Discussion tasks, and an end of course data modeling project.

Course Text

The course text is Applied Choice Analysis: A Primer by David A. Hensher, John M. Rose and William H. Greene, published by Cambridge Press.

Please order a copy of your course textbook prior to course start date.

Software

This course does not have a software requirement.

Examples of design and analysis will be shown in various software packages. While the course text is tuned to Nlogit/Limdepo, no software is required to do the coursework.

Course Fee & Information

Enrollment
Courses may fill up at any time and registrations are processed in the order in which they are received. Your registration will be confirmed for the first available course date unless you specify otherwise.

Transfers and Withdrawals
We have flexible policies to transfer to another course or withdraw if necessary.

Group Rates
Contact us to get information on group rates.

Discounts
Academic affiliation?  In most courses you are eligible for a discount at checkout. Use promo code ACADEMIC where prompted during registration.

Invoice or Purchase Order
Add $50 service fee if you require a prior invoice, or if you need to submit a purchase order or voucher, pay by wire transfer or EFT, or refund and reprocess a prior payment.

Options for Credit and Recognition

This course is eligible for the following credit and recognition options:

No Credit
You may take this course without pursuing credit or a record of completion.

Mastery or Certificate Program Credit
If you are enrolled in mastery or certificate program that requires demonstration of proficiency in this subject, your course work may be assessed for a grade.

CEUs and Proof of Completion
If you require a “Record of Course Completion” along with professional development credit in the form of Continuing Education Units (CEU’s), upon successfully completing the course, CEU’s and a record of course completion will be issued by The Institute upon your request.

INFORMS-CAP
This course is recognized by the Institute for Operations Research and the Management Sciences (INFORMS) as helpful preparation for the Certified Analytics Professional (CAP®) exam and can help CAP® analysts accrue Professional Development Units to maintain their certification.

Supplemental Information

Literacy, Accessibility, and Dyslexia

At Statistics.com, we aim to provide a learning environment suitable for everyone. To help you get the most out of your learning experience, we have researched and tested several assistance tools. For students with dyslexia, colorblindness, or reading difficulties, we recommend the following web browser add-ons and extensions:

 

Chrome

 

Firefox

 

Safari

  • Navidys (for colorblindness, dyslexia, and reading difficulties)
  • HelperBird for Safari (for colorblindness, dyslexia, and reading difficulties)

Miscellaneous

There is no additional information for this course.

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Discrete Choice Modeling and Conjoint Analysis
$999 | Enroll Now
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