The Scale Distributions node is designed to take Product-level WTP Customer Distributions (as opposed to Feature-level Customer Distributions) from the Input Willingness To Pay (WTP) Matrix and scale them by either a fixed amount or until a target Market Share is reached.
Scaling select WTP Customer Distributions may be used when studying the impact of an advertising campaign. For example, a campaign may raise the WTP of all Products in the Market by a base amount, may then raise the WTP of the target Brand, and finally raise the WTP of the target Product itself. Scale Distributions nodes can be cascaded one after the other to simulate this Market to Brand to Product effect.
Scaling all of the Products in the WTP Matrix can be used to set a baseline number of 'No Sale' Customers. For example, the Scale Distributions node may iteratively alter the Customer Distributions until, say, 5% of the Market comprises of 'No Sale' Customers. These 'No Sale' Customers will enter the Market when the Price of the Products decrease or the value offered by these Products increase.
You want to see the source code for this node? Click the following button and we’ll use our super-powers to find it for you.
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.
Deploy, schedule, execute, and monitor your KNIME workflows locally, in the cloud or on-premises – with our brand new NodePit Runner.Try NodePit Runner!
Do you have feedback, questions, comments about NodePit, want to support this platform, or want your own nodes or workflows listed here as well? Do you think, the search results could be improved or something is missing? Then please get in touch! Alternatively, you can send us an email to email@example.com, follow @NodePit on Twitter, or chat on Gitter!
Please note that this is only about NodePit. We do not provide general support for KNIME — please use the KNIME forums instead.