Marketing Mix Modeling
Data Science Project
Marketing mix modeling identifies the significant influence of marketing activities on online and offline conversions or sales and thus provides a solid basis for data-driven budget decisions. Classic statistical methods, such as regression analysis, are used to calculate the proportional value contribution of marketing channels, their ROI and impact duration. Based on this, forecasting models for budget scenarios can be created.
Evaluation of marketing efficiency
Influence of seasonal effects
Automated model updates
Project Plan
Definition of the marketing channels and the modeling setup
Ensuring data availability
Checking data quality and preparing data
Explorative, descriptive data analysis
Modeling of the marketing mix
Visualization of decomposition and calculation of ROI
Calculation of the forecast model
Presentation of results and activation