Key Driver Analysis (KDA) is a statistical method used in marketing research to find the factors (or “drivers”) that have the most significant impact on a business outcome, such as customer happiness, loyalty, or purchase intent.

Critical factors or attributes that most significantly influence a specific outcome or behavior, such as customer satisfaction, brand loyalty, purchase intent, or overall business performance. These drivers are identified through statistical techniques, known as Key Driver Analysis (KDA), which analyze data to determine which variables (e.g., product quality, customer service, price, brand reputation) have the greatest impact on a desired business metric.

The different ways data can be quantified or categorized, determining the type of statistical analysis possible. They include nominal (categories without order), ordinal (ordered categories), interval (equal intervals without a true zero), and ratio (equal intervals with a true zero).

The Margin of Error is the range that we would expect to see in the larger population, given a particular response in the sample. For example, if we see a response of 50% in the sample, and have calculated a margin of error of +/- 3% (based on size of the sample and variability in individual responses), that means that we expect the “true answer” for the larger population to be somewhere between 47% and 53%.

A market development strategy is a growth strategy where a business seeks to enter new markets with its existing products or services. The goal is to expand the customer base by targeting segments or geographic areas the company hasn’t served before. 

Marketing Mix Modeling (MMM) is a statistical analysis technique used to measure the impact of various marketing activities (the “marketing mix”) on sales or other business outcomes. It helps businesses understand which marketing channels drive performance and how to optimize marketing spend.

Measurable – Accessible – Responsive – Substantial. MARS is a framework used to evaluate and select market segments to target. Organization leverage MARS criteria to determine whether a particular segment is worth focusing on.

MaxDiff (Maximum Difference Scaling) is a survey-based research technique used in marketing to measure preferences or the relative importance of various items (such as product features, benefits, or messages).

In finance, a “NET” is an amount minus expenses or fees; In research reporting, a “NET” is an amount minus duplicates. In many cases, a NET will be shown for the combination of responses to a particular question (like, “Top-3 Box”, where there are no duplicates and it’s simply a sum of responses) or for a combination of sentiments (like, in the case of an open-ended question, someone may express multiple sentiments in the same response which can all be counted separately, but would only count once when showing a NET of similar responses).

Nominal indicates that a data type is grouping things into categories, where one category isn’t higher or lower than any other, they’re just identifiers (like, hair color or zip code). Variable type: Named