Bayesia Market Simulator
BayesiaLab and Bayesia Market Simulator are unique in their ability to use Bayesian networks for choice modeling and market share simulation. Together they provide a comprehensive toolset for simulating market shares of future products based on their key characteristics, without requiring new and costly experiments. As a result, BayesiaLab and Bayesia Market Simulator allow using a vast range of existing research for market share predictions.
We present a new method and the associated workflow for estimating market shares of future products based exclusively on pre-introduction data, such as syndicated studies conducted prior to product launch. Our approach provides a highly practical, fast and economical alternative to conducting new primary research.
With Bayesian networks as the framework, and by employing the BayesiaLab and Bayesia Market Simulator software packages, this approach helps market researchers and product planners to reliably perform market share simulations on their desktop computers, which would have been entirely inconceivable in the past.