Occam's Razor

SEPTEMBER 19, 2011

This: You understand all the environmental variables currently in play, you carefully choose more than one group of "like type" subjects, you expose them to a different mix of media, measure differences in outcomes, prove / disprove your hypothesis (DO FACEBOOK NOW!!!), Measuring Incrementality: Controlled Experiments to the Rescue!

Measurement 120

Measurement Advertising Testing Marketing 120

Smart Data Collective

FEBRUARY 14, 2023

Of course, this statistic predates the pandemic. RetailDive recently published an article titled Furniture retailer embraces digital marketing and measures its impact with analytics , which underscores the benefits that analytics offers. Data analytics technology has played a huge role in the future of small businesses.

Data Analytics 143

Data Analytics Analytics Advertising Sales 143

Data Science 101

JANUARY 15, 2020

We divide participants into two groups- one group given a snack and TV and another group given no TV, just magazines and snacks. Reliability: It means measurements should have repeatable results. For eg: you measure the blood pressure of a person. So instruments should be checked well before taking measurements.

Experimentation 96

Experimentation Statistics Measurement Testing 96

DataRobot Blog

APRIL 4, 2022

MMM stands for Marketing Mix Model and it is one of the oldest and most well-established techniques to measure the sales impact of marketing activity statistically. Historically, this analysis was applied to traditional offline media channels: TV, radio, print (magazines, newspaper), out-of-home (billboards and posters), etc.

Machine Learning 52

Machine Learning Sales Measurement ROI 52

Occam's Razor

SEPTEMBER 24, 2012

A Facebook employee (FBe) gave a talk about measuring ROI/Value of Facebook campaigns. FBe's recommendation was (paraphrasing a 35 min talk): Don't invent new metrics, use online versions of Reach and GRPs to measure success. Why is it so hard to measure the value of Facebook? How can we do better? That is ok.

Advertising 165

Advertising Metrics ROI Marketing 165

Occam's Razor

JANUARY 9, 2012

Most companies are astonishingly blasé about data and possibilities of measurement. " Sad, unimaginative measurements of their sad, unimaginative campaigns. How good can it possibly feel to do unimaginative things that barely even worked on TV/radio/magazines/catalogs? One of my biggest learnings?

Marketing 142

Marketing B2B Measurement Risk 142

Occam's Razor

APRIL 30, 2018

Geico purchases every kind of ad: TV spots, radio ads, billboards (OOH), digital displays (video, online,– social media), print (magazines, newspaper, your cousin's Christmas letter), and so much more. The teams naturally gravitate towards optimization and measurement that spans their individual mini-universes. Let me explain.

Advertising 118

Advertising Metrics Measurement Insurance 118