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You might be interested in Media Mix Modeling — a regression-based approach to finding relationships between marketing spend and sales performance. A good prim
by mkmk 5y ago
You might be interested in Media Mix Modeling — a regression-based approach to finding relationships between marketing spend and sales performance.
A good primer is here: https://github.com/mecommerce/ThirdLove-Tech-Blog/blob/master/Media_Mix_Model/ThirdLove_MMM_Whitepaper.pdf https://github.com/mecommerce/ThirdLove-Tech-Blog/blob/maste...
And https://www.vexpower.com/ https://www.vexpower.com/ is an early but very promising educational tool in the space.
- hammock 5y agoMedia mix modeling is well-intentioned but in reality a huge overpromise and highly profitable way for data scientists to snow/fleece their advertiser clients. (More detail.. it's a bit like the Fed's inflation data: when you can manipulate the constants at will, introduce fake data as proxy for missing data, etc.. the ways and means to force a desired result are endless)
- mkmk 5y agoThere’s a lot of truth to that. When done in house, though, it can be a useful additional check on spend allocation. Of course it still becomes political if channel owners feel like their career progression depends on growing share of budget.