The Matrix Distributions node takes an Input Correlation Matrix and uses the Correlation values between each row and column to generate a set of correlated Customer Distributions. Additional Customer Distributions from the Input Attributes List can also be added to the Output Customer Distributions Matrix.
Each output Customer Distribution column will have a Mean and Standard Deviation (SD) set according to either the Configuration Dialog, or overridden by the 'Mean' and 'SD' columns in the Input Attribute List. By default, Unit Distributions having a Mean of 0.0 and a Standard Deviation of 1.0 will be generated. Each row in the set of Output Customer Distributions corresponds to a Feature 'Part-Worth' value or Product 'Willingness To Pay' (WTP) value for a Virtual Customer.
An upstream Differentiation Horizontal node, or Correlation Pairs to Matrix node, or Similarity Matrix node can produce an Output Product Correlation Matrix. This can be treated as the Input Correlation Matrix to this Matrix Distributions node.
The Output Customer Distributions from this Matrix Distributions node can become part of a Customer Willingness To Pay Matrix (WTP Matrix) for a set of Products. The Input WTP Matrix can feed a downstream Market Simulation node or a Market Tuning node.
Both the Input Attribute List and the Input Correlation Matrix is optional. If no inputs are provided, then the Matrix Distributions node will generate a single Customer Distribution with a Mean and SD set according to the Configuration Dialog. If just the Input Attribute List is provided, then the Default Correlation from the Configuration Dialog will set the level of Correlation between each of the Distributions. If just the Input Correlation Matrix is provided, then each Output Correlation will have a Mean and SD set according to the defaults in the Configuration Dialog.
More Help: Examples and sample workflows can be found at the Scientific Strategy website: www.scientificstrategy.com.
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To use this node in KNIME, install the extension Market Simulation nodes by Scientific Strategy for KNIME - Community Edition from the below update site following our NodePit Product and Node Installation Guide:
A zipped version of the software site can be downloaded here.
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