Disclaimer: This blog post was written by an external contributor about applications of predictive modeling in marketing. The approach laid out in this document is not reflective of how Recast approaches predictive modeling. The actual model specification can be found in the technical model specification. When it comes to marketing, …
Predictive Modeling in Marketing: The What, Why and the How Read More »
Monte Carlo simulations are a powerful tool for doing predictive analysis. By running multiple simulations with different input variables, analysts can gain insight into the likelihood of different outcomes and make more informed decisions. In this blog post, we’ll explore what Monte Carlo simulations are, how they work, and run …
Monte Carlo Simulations: A Tool for Predictive Analysis and Informed Decision Making Read More »
Someone posed the following query in a marketing measurement slack I’m in: At first, this question seemed really easy. Hubristically, I replied “just use a t-test for difference in means.” However, it turns out that the analysis isn’t quite so straightforward (which I realized after a few minutes of thought …
Is there a good way to do a test of statistical significance for ROAS? Read More »
In the context of marketing measurement, marketing analysts and marketing scientists use the term “incrementality” to refer to causality. Incrementality is about measuring what actions would not have happened without a specific marketing intervention. For example if I spend money advertising my product, I need to know how many people …
Introduction The macro-economy in the US is tough right now. Inflation is up (driven in large part by insane gas prices) and although consumer spending remains high, many are nervous about how consumers will respond to having an ever-larger chunk of their monthly budget eaten up by fuel costs. Many …
The global marketing attribution software market is set to grow by 14.4% to USD 3.6 billion by 2023. However the industry is in a state of upheaval, as marketers move to more privacy-friendly solutions in the wake of limits to tracking imposed by Apple, the European Union and others. Marketing …
The Best Marketing Attribution Software For 8 Measurement Methods (2022) Read More »
Linear regression is one of the most well known and well understood algorithms in statistics and machine learning. Anybody with access to Excel or Google Sheets can use linear regression, but don’t let its simplicity and accessibility fool you – it’s unreasonably effective at solving a long list of common …
If there’s one thing everyone knows about statistics, it’s that ‘correlation is not causation’. Ice cream sales and shark attacks both rise in the summer, but one doesn’t cause another. The hot weather gets people both buying ice cream and swimming in the sea in greater numbers. If we’re advertising …
Causal Inference: Where does it sit in the hierarchy of evidence? Read More »
The Attribution Stack was featured in our post on Reforge: “The Attribution Stack: How to Make Budget Decisions in a Post-iOS14 World“ We’re in the media measurement space, so our inboxes and dm’s are full with requests for help navigating the murky world of marketing attribution (especially since iOS14). Every …
At the highest level, marketing attribution is about estimating the relative effectiveness of different advertising channels. While the term is used quite broadly to cover lots of different techniques and tools, the goal is the same: determine which marketing dollars are driving business value and which aren’t. “Half the money …
