Researchers, this Valentine’s do something nice to show respondents you love them
I usually post or tweet this link once a year right before Valentine’s Day because so many people are in the market for a diamond then.
It was a model we built for fun back in 2006. I don’t consider it promotional per se as it’s something we just put out there for free under the creative commons license agreement. It gets a slow steady flow of visitors from around the world, not market researchers, usually just people getting engaged and shopping for that first diamond ring.
I’d love to see more market researchers build free models like this. The idea came when I was in the market for a diamond myself one week and I got frustrated with the lack of intelligent information around selecting one at a fair price. If you think about it, a diamond is far more of a commodity than a car, but there was no Edminds.com ‘True Market Value’ for a diamond. In fact diamond retailers pray on emotion and the uneducated consumer.
This model was created based on screen scraping data on almost 50,000 diamonds from various online diamond retailers. Our first model predicted selling price for any diamond. Later we decided for various reasons, including a lot of hate mail from diamond retailers, to dumb down the model a bit and make it a comparison only tool. Still I think it can be quite useful.
Happy Valentine’s Day to you and your loved one!
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