The MaxDiff Calculator helps determine the relative importance or preference for different items by analyzing the maximum difference in responses. This calculator is useful for market researchers, product developers, and analysts to prioritize features, products, or services based on survey data.
Inputs:
- Total Number of Respondents (N): The total number of people who participated in the survey.
- Number of Times Item is Selected as Best (B): The number of times an item is selected as the best choice.
- Number of Times Item is Selected as Worst (W): The number of times an item is selected as the worst choice.
Formulas and Calculations:
MaxDiff Score Calculation:
The formula to calculate the MaxDiff score is:
[ \text{MaxDiff Score} = \frac{B – W}{N} ]
Example Calculation:
Inputs:
- Total Number of Respondents (( N )): 200
- Number of Times Item is Selected as Best (( B )): 150
- Number of Times Item is Selected as Worst (( W )): 50
Step-by-Step Calculation:
- Calculate MaxDiff Score:
- Using the formula:
[\text{MaxDiff Score} = \frac{150 – 50}{200} = \frac{100}{200} = 0.5
Summary:
For an item that was selected as the best 150 times and the worst 50 times out of 200 respondents, the MaxDiff score is 0.5.
Conclusion
The MaxDiff Calculator is a valuable tool for market researchers and analysts to quickly determine the relative importance or preference for different items based on survey data. By inputting the total number of respondents, the number of times an item is selected as the best, and the number of times it is selected as the worst, users can easily calculate the MaxDiff score. This information helps in making informed decisions regarding product features, services, and market strategies.