Friday, October 2. 2009

Share Your JMP Stories (or Videos) as JMP Turns 20


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I was formerly working at a large biotech company where my job was to find main effects and interactions that correlates with higher batch yields.

While I was there, I had need to purchase a digital camera, but did not have the time, nor was interested in researching what made a digital camera a "good buy."

So I went to the Consumer Reports website, grabbed data on megapixel, weight, battery life, size... etc. of these digital cameras and within minutes, had correlated these factors with price.

Visually, everything above the y=x line was "overpriced", everything under the line was "underpriced" relative to the features. I had before me a statistical model of how to determine a "good deal."

In the end, Amazon sent out a flyer on dropping the price of a 4.1 MP camera (biggest at the time). I purchased the camera within minutes of the flyer and it took about 1.5 years for other cameras to get to 4.1 MP.

Who ever though JMP was awesome for making fast decisions in my personal life?
#1 Oliver Yu (Homepage) on 2009-10-02 13:02 (Reply)

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