Artificial Intelligence (AI) and Machine Learning in Market Research
Artificial Intelligence (AI) and Machine Learning in Market Research
8 PagesThis white paper by Ironwood Insights explains how machine learning supports market research through cluster and decision tree analysis. Using k-means clustering, the paper identifies consumer purchasing habits and groups them into meaningful segments. It also demonstrates CHAID decision tree analysis to predict customer churn in telecommunications, finding that newer customers and those renting equipment are more likely to switch providers. The paper emphasizes that while machine learning simplifies large data analysis, analysts must still choose the right model and interpret results effectively.
