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NEUROMARKETING AND BIG DATA ANALYTICS FOR RESEARCH USING FUNCTIONAL MAGNETIC RESONANCE IMAGING
Functional magnetic resonance imaging (fMRI) is one of the best available devices that can record the activities of living human brain non-invasively. Its precision and high spatial resolution is matched by none other methodology. The entry barrier to fMRI research is exceptionally high. fMRI has widely been used in medical and scientific research, but its application to marketing research has been limited because of two important reasons. First, the cost problem. The MR scanning devices often cost multi-million dollars and using fMRI for marketing research can be costly. Second, analyzing data from fMRI study is another formidable task. fMRI measures the brain’s hemodynamic activities using voxel as a measuring unit; Voxels are often a cubic with 2 to 3 millimeters on one side. Since a typical adult brain represents over one million voxels in one scan volume, and each scan generally has 2 to 3 seconds of interval time, one experimental block of 40 seconds, for example, will create over 40 million data points. Compared to a typical marketing research data which in general have two dimensions (2d) of rows and columns, fMRI data is inherently 4d with added dimensions of voxel and time. Furthermore, the fMRI signal is sensitive to various sources of noises. In this talk, we offer support for marketing researchers who want to explore fMRI method for their research in the future. First, we discuss issues related to experimental design for fMRI experiments. We explain preprocessing steps that are recommended for fMRI data and show how to apply statistical methods to make inferences that can increase internal validity. Then, we will explicate how to apply big data analytics to fMRI data during this talk to find deep insights into customer’s brains. A real neuromarketing fMRI data will be used to break down the steps for fMRI research and data analytics. Finally, we will open a discussion to discover future research opportunities for marketing research using fMRI. The purpose of this talk is to lower the entry barrier of fMRI method in neuromarketing research so that more people in the marketing field can benefit from the most advanced scientific achievement of our time and discover deepest insights into our customers.
