Anderson Analytics, Data Mining for Diamonds
Stamford, CT (NYSE) 10 February 2006
With only a few shopping days until Valentine’s Day comes news of a way to determine market value of a diamond, the perfect time.
all started when Anderson Analytics Managing Partner and founder Tom Anderson, was looking for a way to seek to compare different diamonds to each other, as well as different diamond retailers together to see that diamonds were a better value for the price .
“I thought on that diamond retailers have a formula for evaluating diamonds and setting the correct price based buying and selling what they call the 4Cs (cut, color, clarity and carat), have,” said Anderson. “But diamond merchants never reveal their methods for determining the value, and to my surprise, there was no such formula anywhere on the Internet.”
Tom turned to Anderson Analytics to do what she does best – take large amounts of data, such as general diamond pricing and 4 ‘C’ for thousands of diamonds, and analyze. With advanced statistical software Anderson Analytics literally “broken” all available data on more than 44,000 diamonds! The results of the multivariate analysis, a methodology for predicting the price and market value of diamonds with a very high level of security.
“Since we are in the knowledge business at Anderson, I found it ironic that I just could not get enough information on diamond market value. We think the methodology we developed for determining diamond value and is an important exercise in that illustrate how advanced analytical techniques can help not only business decisions, but common choices as well, much more manageable, “said Anderson.
To find out what your diamond is worth, please visit: http://www.andersonanalytics.com/diamond.htm
About Anderson Analytics
Anderson Analytics is a full-service market research consultancy, providing quantitative and qualitative solutions. At Anderson Analytics we help solve challenging marketing problems and discover hidden opportunities. We combine the efficiencies and business experience in major market research firms with the rigorous methodological understanding of science with the enthusiasm and creativity found only found in smaller companies. Helping clients achieve a significantly better return on marketing investment is our ultimate goal. For more information, see http://www.andersonanalytics.com.
Disclaimer: for informational purposes only. The Diamond Pricing Tool is the intellectual property of Anderson Analytics, LLC. The tool uses several forecasting models. The most important model has an accuracy> R = 0.91, R2 .83, F 69161st Depending on the needs of your diamond can be accurately predicted with more or less. Anderson Analytics does not sell diamonds and makes no representations or liable for the accuracy or reliability of the model.
Press contact:
USA
Anderson Analytics, LLC
Cold Spring Road Suite 154
80
Stamford CT 06 905
Sweden
Anderson Analytics
Frejgatan 13, 114 79 Stockholm
Sverige
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