StatWizards LLC. announced the release of StatWizards Suite 2017. This solutions offers an EXCEL-based suite of tools that simplify the execution of discretechoice projects. Discrete-choice analysis, a Nobel Prize-winning statistical technique, addresses bet-your-company problems such as how to price and position products or whether new offerings will survive.

About StatWizards Products. The last few decades have seen a revolution in market research techniques. Often these techniques involve advanced mathematics and are inherently difficult to apply. StatWizards is committed to making these tools accessible via Excel add-ins at no sacrifice in functionality. For experienced users, StatWizards provides a huge boost in productivity.

One of these techniques is discrete-choice modeling. The idea underlying this technique is that by observing the choices people make between products or services, one can model how individuals trade off product or service features with pricing. Results from models like this can be placed in an Excel-based simulator in which marketers can project how different products might fare in a competitive marketplace.

Another technique consists of Fader-Hardie models. These models address a wide range of business issues, from calculating customer lifetime value for a product's entire customer base to projecting repeat bookings for luxury cruise lines. A distinct feature of Fader-Hardie models is that they simultaneously produce granular product forecasts at individual and market levels.

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