Market Simulation nodes by Scientific Strategy for KNIME - Community Edition version 4.3.1.v202102181051 by Decision Ready, LLC
The Scale Demographic node changes the Willingness To Pay (WTP) values of all the individual Customers within the Top Input WTP Matrix and Bottom Input WTP Matrix.
The Scale Demographic node is designed to sit immediately downstream of a KNIME 'Row Splitter' node. The user can segment Customers by splitting the Input WTP Matrix into two halves based upon a Customer Demographic or Nominal Product Attribute found within each row. For example, an upstream 'Row Splitter' can filter 'Female' Customers into the Top Input WTP Matrix, and 'Male' Customers into the Bottom Input WTP Matrix. The KNIME 'Row Splitter' node provides a sophisticated range of filtering methods, including a rule-based filter and a reference value filter, as well as wildcard string matching and regular expressions. Both the top and bottom outputs from the Row Splitter node should be connected to the top and bottom inputs of the Scale Demographic node.
Scaling individual WTP values depending upon Customer Demographics is helpful in a number of situations. For example, a Marketing Campaign might only target a certain Customer Demographic, and only Customers who fall within that Demographic are likely to increase their Willingness To Pay (WTP) for the promoted Product. And Wealthy Customers, as identified by perhaps their zip-code, may have a higher WTP for Luxury Goods or a certain Category of Products.
Several Scale Demographic nodes can be cascaded one after the other to fine-tune the updated WTP values. The Scale Demographic node can also be configured to combine (concatenate) all the results into a final Output WTP Matrix that can be directly connected to a downstream Market Simulation node.
To use this node in KNIME, install Market Simulation nodes by Scientific Strategy for KNIME - Community Edition from the following update site:
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