Data-Driven Decision Making for Business
Ted Kwartler
Data Dude
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The number of new products sold dictate the number of customer service phone calls received
BASS model: early adopters curve and late adopter curve combine over time for the total market
m
: Total market capacityp
: Rate of innovationq
: Rate of imitationAt any given point in time, the forecast is the sum of p
and q
rates along reaching towards the total market capacity
P: Innovation
Q: Imitation
Product | P-Inno | Q - Imit |
---|---|---|
B/W TV | .108 | .231 |
Color TV | .059 | .146 |
Room Air Con. | .006 | .185 |
Dryers | .009 | .143 |
CD Player | .055 | .378 |
Cell Phones | .008 | .421 |
Steam Iron | .031 | .128 |
Microwave | .002 | .357 |
Hybrid Corn | .000 | .797 |
Home PC | .121 | .281 |
Averages:
Data-Driven Decision Making for Business