Search the World's Largest Database of Information Science & Technology Terms & Definitions
InfInfoScipedia LogoScipedia
A Free Service of IGI Global Publishing House
Below please find a list of definitions for the term that
you selected from multiple scholarly research resources.

What is Testing

Handbook of Research on Managing and Influencing Consumer Behavior
Involves using the calibrated simulation to make predictions on a particular time period (or cross section) from which the data has not been used for calibrations. These predictions are then compared with the corresponding data to ensure the goodness of fit of simulated data with real data. Note that the data being used here is not the same as the one used for calibration. The testing exercise provides further validity of the models and ensures a degree of robustness for practical use.
Published in Chapter:
Modelling of Consumer Goods Markets: An Agent-Based Computational Approach
Stephen E. Glavin (Unilever SEAC, UK) and Abhijit Sengupta (University of Essex, UK)
Copyright: © 2015 |Pages: 25
DOI: 10.4018/978-1-4666-6547-7.ch020
Abstract
An agent-based behavioral model incorporating utility-based rational choice enhanced with psychological drivers is presented to study a typical consumer market. The psychological drivers incorporate purchase strategies of loyalty and change-of-pace, using agent-specific memory of past purchases. Attribute-specific preferences and prices drive the utility-based choice function. Transactions data is used to calibrate and test the model. Results indicate that prediction accuracy at both macro and micro levels can be significantly improved with the incorporation of purchase strategies. Moreover, increased agent memory does not improve predictions in the model beyond a threshold, indicating that consumer memory of past shopping instances is finite and recent purchase history is more relevant to current decision making than the distant past. The chapter illustrates the use of agent-based simulations to model changes or interventions in the market, such as new product introductions, for which no history exists.
Full Text Chapter Download: US $37.50 Add to Cart
More Results
Risk Analysis of Diabetic Patient Using Map-Reduce and Machine Learning Algorithm
It is process of making a machine learning model to test the unknown sample from testing datasets for the predictions.
Full Text Chapter Download: US $37.50 Add to Cart
Auditing Agile Release Management: Balancing Speed and Control
Evaluation of software processes of business applications to check if they work as expected.
Full Text Chapter Download: US $37.50 Add to Cart
Self- and Peer-Assessments in the Iranian Context: A Systematic Review
The use of measurement to support inferences about students’ knowledge, skills, or abilities.
Full Text Chapter Download: US $37.50 Add to Cart
Strengthening Public Health Response to COVID-19 through Policy Learning and Policy Transfer
Using medical procedures to confirm a diagnosis in individuals suspected of having a disease.
Full Text Chapter Download: US $37.50 Add to Cart
Digital Transformation and Health Systems Performance in Global Settings During COVID-19
Using medical procedures to confirm a diagnosis in individuals suspected of having a disease.
Full Text Chapter Download: US $37.50 Add to Cart
Re-Imagining the Future of Experiential Learning Through a Campus-Wide Design Thinking Initiative
Acquiring feedback from stakeholders, as well as implementing pilots of our prototypes.
Full Text Chapter Download: US $37.50 Add to Cart
eContent Pro Discount Banner
InfoSci OnDemandECP Editorial ServicesAGOSR