No matter who your end user is, whether they are a consumer or a traveler, they will have a preference when given a set of choices. Understanding behavior in a complex system—how and why a person chooses between competing alternatives—is critical to the design and positioning of all goods and services. This is true across a range of industries and activities, from the decision to purchase a durable good to the decision to take a tolled expressway.
Discrete choice modeling is an analytical method used to understand and to predict this real-world decision-making behavior.
When you partner with RSG, we develop customized surveys and controlled experiments and use passively collected data (“big data”) to gather information on travel behavior, choice probability, revealed preferences, and stated preferences. With this data, our team of advanced analytics experts creates custom models to provide insight and to forecast actual choice behavior for your unique product, service, or offering.
Since our founding, we have pioneered the application of innovative and powerful methods for modeling choice behavior. We develop, refine, and apply discrete choice modeling to create robust forecasting models of people’s preferences among choice alternatives.
Our discrete choice models provide rich descriptions of how product or service features, designs, and other attributes—such as price and positioning—affect individuals’ selection behavior. This choice data is derived from specially designed surveys that include choice-based stated preference exercises, and data on actual decisions from market research.
At RSG, our choice exercise and discrete choice modeling solutions go well beyond what you can accomplish using commercially available off-the-shelf software. We provide solutions tailored to your needs. Our fully customizable methods use efficient experimental designs to reduce survey burden and consider multiple aspects, such as:
We also develop and apply complementary methods to model the myriad other considerations in fully understanding behavior, including the following:
RSG offers the power of discrete choice models to help your organization gain valuable insights into decision behavior and drive better strategies and outcomes. View our selected solutions below to see what we offer or contact our team today for more information.