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Home arrow Marketing Research News arrow Companies Latest Products arrow Bonamy Finch launches new version of smartphone app to show significance of quantitative data
Bonamy Finch launches new version of smartphone app to show significance of quantitative data PDF Print E-mail
Written by Bonamy Finch   
03 Feb 2015

Consumer insight and analytics specialist Bonamy Finch has launched a new version of its free smartphone app, SigTester, to help marketers and researchers quickly recognise the significance of quantitative data presented by their research.

The Sig Tester app tells users if differences between pairs of mean scores, proportions or correlation coefficients are statistically significant. It can also be used to estimate confidence intervals around these types of values. A third function lets the user know the sample size that would be needed to have a specific confidence level for any percentage you might expect to see in your data. All tests can be conducted at the 90%, 95% and 99% confidence levels.

“Have you ever been in a meeting, looking at some figures in a chart, and been asked ‘But is that difference significant?’ Alternatively, do you ever watch TV ads that make claims like ‘76% of 108 women agreed…’, and wonder what the confidence interval around that figure is,” explains Leigh Morris, Managing Director, Bonamy Finch.

“We created this app to help researchers and marketers be able to answer those questions about their own data. It will help people focus attention quickly on the issues that are genuine, rather than just statistical noise. The first version was a great success – it has been downloaded more than 500 times - and we believe people will find the new version even more useful.”

As good as the app is, professional researchers and marketers need to understand the limitations of statistical significance, says Morris, and how to draw conclusions about the practical significance of differences and patterns in data. Without being able to do this effectively, it is not possible to make well-founded business recommendations.

The SigTester app is available free for both Android and Apple
 
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