After more than 20 years of consumer data science, Horizon Consumer Science knows the pitfalls of data science and how to conduct data science correctly in the business setting.
Horizon Consumer Science has been carrying out descriptive analytics, predictive analytics, diagnostic analytics, prescriptive AI analytics, and preventative analytics for over 20 years. The names have changed but the solid empirical practices remain the same.
Horizon believes that four roles are necessary to carrying out data science properly in consumer markets. We bring together data thinkers (statisticians and mathematicians), data jocks (software data engineers), business thinkers (MBAs) and consumer behavior specialists (consumer psychologists).
Horizon Consumer Science releases a Bi-Annual travel retail report on the habits and profile of consumer travellers around the globe. From airport retail trends to cruise ships to tourist shops and overall global tourism trends, this is the most comprehensive study of global travellers and what they spend each year. The 2018 executive summary of the report is available for free. Please contact Horizon Consumer to purchase the entire report. The next report will be released October 2020.
Dr. Denise Daniels speaks at UC Irvine’s Applied Innovation Center to start-up CEOs on how to creatively outsource their data science needs until they are large enough to build their own data science team.
Horizon Consumer Science VP of Data Science & AI Consulting, Ph.D., Research Psychologist and Data Scientist, spoke at UC Irvine’s Applied Innovation Center on August 15, 2019. Check out her talk, titled:
Segmentation Algorithms and Rater Bias: How our proprietary algorithm for market segmentation outperforms standard approaches
Segmentation is a method that partitions a market to market segments. These are essentially subgroups of consumers who have similar characteristics, be it their attitude towards shopping, their life philosophy, their preference to a product, etc. The idea behind segmentation is that it helps firms develop more efficient marketing strategies, such as to better target their products to their consumers based on the different needs of segments.There are generally two types of segmentation: a-priori and post hoc. With the a-priori segmentation, segments are defined prior to analysis and the goal of the analysis is simply to profile these segments. With the post hoc segmentation, segments are identified by using either hierarchical or partitioning methods (Dillon, 1994).
Horizon Consumer Science CEO and Founder, Ian Cesa, Ph.D., Research Psychologist and Data Scientist, spoke at UC Irvine's Applied Innovation Center on November 2, 2018. Check out his talk, titled:
Watch: how to Run a Successful Market Research Project (And the Pitfalls if You Don’t!)
A new article in the Daily Mail Online explores some insights from our TRaCS study:
The number one reason people shop when they are abroad is to buy unique 'things that are different from home', followed by unplanned, sometimes impulsive purchases of 'whatever catches my eye' and 'items the place has a reputation for.
Read more here.
The Travel Retail Catalyst Study (TRaCS) of 22,000 international travellers from over 40 countries gives us insight into shopping behaviors, motivations, and trends, and allows us to compare nationalities.