People who have been around the world of marketing mix modeling (MMM) for a while are often shocked that Recast is designed to be refreshed on a weekly cadence. “How are you able to do in a week what it takes many other vendors months to do?” they might ask. …
Marketing Mix Models (MMM) are very complex, and the choice of the parameters your data scientists choose can really influence the results you will get. If the model allows for your analyst to guess, check, and set parameters until things look right to them, there’s a high chance the end …
How to reduce bias in your marketing mix modeling (MMM) with better parameter settings Read More »
Introducing Media Mix Modeling (MMM) into your organization is a decision that requires careful consideration and due diligence. MMM is hard, and it’s worse to do it badly than to not do it at all. If you’re starting to consider how to do MMM, you might be thinking about whether …
9 Questions to Ask Your MMM Vendor (or Internal Marketing Science Team) Read More »
You don’t just want an MMM model. You want a model that can be trusted. But since MMM models are really powerful, they can also be subject to overfitting. So, how can we build confidence in the model and the recommendations we’re making to the marketing team? The answer: backtesting …
How to do holdout accuracy and backtesting for your MMM (and why it matters) Read More »
It is said that the best product ideas come from having to scratch your itch – from facing a big, challenging problem and urgently needing to find a solution for it. Recast has a similar genesis story. I ran the data science and analytics team at Harry’s, known for its …
There are thousands of non-marketing factors that can make an impact on your company’s base sales. Consumer sentiment, GDP growth, inflation, consumer saving rates, interest rates… we could list dozens and dozens of exogenous factors that can change your base sales. But when it comes to marketing mix modeling, we …
One of the ever-present problems with marketing mix modeling is that you always have to choose some start date. And since you always need to choose a start date, there’s always some period before the start date that’s impacting your results. Here’s how Recast handles these carry-over effects.
If you’re considering working with a marketing mix modeling vendor, you’ve probably heard of Google’s open-source MMM tool, Lightweight MMM, Meta’s Robyn MMM, and our very own MMM platform here at Recast. Now, we know that choosing an MMM is a complex decision that has many variables you have to …
People often ask us about the differences between Recast’s next-generation MMM platform and Google’s open source MMM tool, Lightweight MMM. In this blog post we do a compare-and-contrast between these tools – we’re obviously biased but will do our best to lay out the pros and cons of each tool …
As more marketing teams understand the need to add new measurement methods beyond digital tracking, we expect more and more emphasis on MMM and experiments. Experiments and MMM can be very complimentary – but they have to be done well. One of the challenges with both methods is that they’re …
