Bayesian Statistics and Marketing

ebook Wiley Series in Probability and Statistics

By Peter E. Rossi

cover image of Bayesian Statistics and Marketing

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Fine-tune your marketing research with this cutting-edge statistical toolkit

Bayesian Statistics and Marketing illustrates the potential for applying a Bayesian approach to some of the most challenging and important problems in marketing. Analyzing household and consumer data, predicting product performance, and custom-targeting campaigns are only a few of the areas in which Bayesian approaches promise revolutionary results. This book provides a comprehensive, accessible overview of this subject essential for any statistically informed marketing researcher or practitioner.

Economists and other social scientists will find a comprehensive treatment of many Bayesian methods that are central to the problems in social science more generally. This includes a practical approach to computationally challenging problems in random coefficient models, non-parametrics, and the problems of endogeneity.

Readers of the second edition of Bayesian Statistics and Marketing will also find:

  • Discussion of Bayesian methods in text analysis and Machine Learning
  • Updates throughout reflecting the latest research and applications
  • Discussion of modern statistical software, including an introduction to the R package bayesm, which implements all models incorporated here
  • Extensive case studies throughout to link theory and practice
  • Bayesian Statistics and Marketing is ideal for advanced students and researchers in marketing, business, and economics departments, as well as for any statistically savvy marketing practitioner.

    Bayesian Statistics and Marketing