Data Science 101

JANUARY 15, 2020

Researchers/ scientists perform experiments to validate their hypothesis/ statements or to test a new product. Suppose we want to test the effectiveness of a new drug against a particular disease. We divide participants into two groups- one group given a snack and TV and another group given no TV, just magazines and snacks.

Experimentation 96

Experimentation Statistics Measurement Testing 96

Occam's Razor

SEPTEMBER 19, 2011

You need people with deep skills in Scientific Method , Design of Experiments , and Statistical Analysis. Then they isolated regions of the country (by city, zip, state, dma pick your fave) into test and control regions. People in the test regions will participate in our hypothesis testing. ask for a raise.

Measurement 120

Measurement Advertising Testing Marketing 120

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

JANUARY 9, 2012

How good can it possibly feel to do unimaginative things that barely even worked on TV/radio/magazines/catalogs? AND you can have analysis of your risk in almost real time to get an early read and in a few days with statistical significance! Allocate some of your aforementioned 15% budget to experimentation and testing.

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. Can we test different spending levels in that market? Was that a great ad? And a subset of users who were not exposed to the ads.

Advertising 118

Advertising Metrics Measurement Insurance 118

Occam's Razor

SEPTEMBER 24, 2012

It is possible to get good test and control groups (type of population, existing brand awareness, market penetration, competitive structures) for our experiments. You do need people (/one person) inside your company with skills in the Scientific Method, Design of Experiments and Statistical Analysis. CEO: OMG, you are so clever.

Advertising 165

Advertising Metrics ROI Marketing 165

datapine

DECEMBER 28, 2021

1) What Is A Misleading Statistic? 2) Are Statistics Reliable? 3) Misleading Statistics Examples In Real Life. 4) How Can Statistics Be Misleading. 5) How To Avoid & Identify The Misuse Of Statistics? If all this is true, what is the problem with statistics? What Is A Misleading Statistic?

Statistics 363

Statistics Advertising Visualization Data mining 363