EPIC Conjoint team congratulates Faye Hahn, a Business Information Student at the Technical University of Darmstadt (Germany), on her exceptional academic work. Faye successfully applied Conjoint Analysis for a very interesting use case: measuring market appetite and client preference for Data Science Consulting Services in Germany.
Faye conducted this survey in the context of writing her bachelor’s thesis about customer preferences in the field of Data Science Consulting. The goal was to investigate preference structures to help providers to define attractive and user-oriented service offering.
The design of the survey consisted of five provider-related attributes with two levels each. Thereby, the study focused specifically on aspects that potential customers can already perceive from the outside before contacting the provider.
The survey links were distributed individually to 100 project managers and employees in the middle and high management in companies from different industries in Germany.
During the study, each of them had to choose from two alternatives and a non-option ten times.
The first insight of the study concerns the relative importance of the features. The resulting values are shown in the image below.
The illustration shows that of the five characteristics examined, the presence of suitable project references (purple in the image) is of greatest importance in the formation of preferences among potential customers.
The reputation of the provider (green) and the existence of an agile approach (light blue) have medium relevance. In contrast, the provider type (dark blue) and the billing model (yellow) appear to have only a marginal influence on the preference of potential customers.
Furthermore, the results of the study indicate a medium demand for Data Science Consulting Services in the area of consideration. One thematic focus here relates, among other things, to the execution of Data Audits. Beyond that, the respondents have named Operations in particular as an interesting field of application for Data Science projects.
Thoughts on the EPIC Conjoint platform
“EPIC Conjoint’s choice-based Conjoint Analysis platform has helped me to determine the relative importance of five select attributes of providers of Data Science Consulting services. Moreover, the tool was used to estimate the all-over demand for such services.
Working with EPIC Conjoint was a very pleasant experience. One big reason for this was the simple and fast communication with my contact person Tobias. Apart from that, I have been enjoying the intuitive and modern design of the tool a lot while working with it.
Overall, I am really thankful that I have been able to use this tool for my study and wish the whole team of EPIC Conjoint much success for the further way.”
It’s been a pleasure working with you Faye. Thank you and all the best in your future endeavours!