After an eight-month beta period, we’re pleased to announce the release of a sweeping update to the HB-Reg software for regression-based problems. It’s hard for us to believe, but the last significant update to HB-Reg occurred nearly ten years ago! Since then, HB (hierarchical Bayes) has found even greater use in the industry and advanced analysts have been finding more and more reasons to run individual-level regressions via HB-Reg (where each respondent or unit of analysis contributes multiple observations).
Here are the main improvements for HB-Reg v4:
- Version 4 features a new user interface, borrowed extensively from the Sawtooth Software's MBC (Menu-Based Choice) software product.
- HB-Reg 4 can automatically code Categorical Independent variables as dummy-coded, linear, or log-linear. This removes extra data processing requirements, making it easy for you to switch back and forth between different independent variable coding schemes.
- HB-Reg 4 automatically builds a "proper prior covariance matrix" when you specify a categorical independent variable (when dummy-coding is activated). This is the same procedure as recommended by leading Bayesian academic Peter Lenk that is also used in our CBC/HB software.
- Covariates may now be included in HB runs. For more information on covariates in HB, please see the white paper entitled: Application of Covariates within Sawtooth Software's CBC/HB Program: Theory and Practical Example (2009). This paper may be downloaded from our Technical Papers library on our website: www.sawtoothsoftware.com.
- Ability to run multiple HB runs simultaneously, utilizing multiple cores of your machine's processor.
- Big gains in speed for exceptionally large datasets (>128MB) due to an improved memory caching technique. We have an enormous HB-Reg dataset for testing (250MB) that experienced a 20x increase in speed under HB-Reg v4 compared to v3.
Demo HB-Reg v4
If you want to run HB-Reg v4 in demo mode to test it out, download the free trial software from: Download HB-Reg Trial Version. The trial software lets you analyze results for up to 50 respondents.
How to Upgrade or Buy HB-Reg
For HB-Reg v3 and earlier users (not on the corporate annual license), the cost to upgrade is $500 per seat. If you currently don’t own HB-Reg, you may purchase single-seat licenses for $1,000.