The advertising industry, worth a staggering $700 billion, has often been overlooked as a significant contributor to supply chain emissions. However, digital advertising, in particular, carries a substantial carbon footprint, primarily due to the energy consumption of...
What is attention economy? Attention is selective, finite, and voluntary. The term selective attention points out that even if something is visible, it is not guaranteed that it will be noticed. Consequently, it is crucial to measure what people actually focus...
Introduction to MMM and Bayesian Statistics Bayesian statistics offers a powerful alternative approach to modeling that can help overcome some of the limitations of frequentist methods and provide richer and more nuanced insights into the data. Marketing Mix Models...
What is adstock in marketing mix modeling? Adstock is a concept that is commonly used in marketing mix modeling (MMM) to account for the carryover effects of advertising Adstock refers to the amount of residual impact that an advertisement has on consumer behavior...
Customer segmentation is a crucial aspect of marketing. It allows businesses to tailor their strategies to meet the needs and preferences of different customer groups. One popular segmentation technique is RFM, which stands for Recency, Frequency, and Monetary Value....
According to a study, 76% of consumers get frustrated by businesses who do not offer personalized experiences. Meanwhile, 71% expect personalization. This highlights the shift in consumers’ purchasing habits and the urgent need for companies to adapt. A way to...
The amount of data generated by the internet continues to grow at an exponential rate. Because of this, it has become increasingly difficult for users to find the information they need. That’s where recommendation engines come in. These engines use data to analyze...
The importance of Marketing Mix Modeling in the new age of digital ad measurement Marketing Mix Model (MMMs) is making a comeback in media measurement. One of the reasons for the resurgence of MMM is due to fundamental changes to digital advertising. For example,...
Fraud Detection: How Machine Learning Can Help Reduce Marketing Expenses and Increase ROI As technology advances, fraudsters are finding new ways to exploit vulnerabilities in the system to engage in fraudulent activities. These activities include chargeback fraud,...
What is Media Mix Modeling? Media mix modeling is a statistical method used to measure the impact of marketing and advertising campaign. This method illuminates how the 4Ps of the marketing mix - product, price, place, and promotion - contribute to a specific goal. By...
The world of customer service is rapidly changing. The modern businesses are taking full advantage of the advances in artificial intelligence (AI) and machine learning (ML) to provide their customers with 24/7 personalized support. ML-powered chatbot represents the...
Image Recognition: A Powerful Tool for Social Media Advertising Social media advertising is becoming more competitive. Marketers are constantly looking for ways to improve their targeting and personalization techniques. One of the best ways to do this is through...