PhTOOL the econometric model to measure the impact of conversation on the bottom line
PHTool is the Buzzdetector proprietary econometric model to detect correlation between conversation, search, adv spending and the bottom line.
The model is based on our algorithms.
The original model was developed for the Pharma market.
- Conversation level index
- Search level index
- Advertising spending level index
- Volume or other business level index
Each dimension included in the database (remedy, market, brand) got a vote for each of the above indexes
This process does tend to gather and to compare trends with different scales
Methodology step by step:
- Data scatter plot analysis vs variables
- Linear regression to define relation between variables
- Conversation clusters finding
- Weighted average index
- Normalization of values
- Output analysis
PHTool has been tested successfully against other markets such as Automotive, Beer.
The second round of research with the University of Florence is about Large Retailers, Cruises and Make up.
Results available since mid January 2014.