Marketing Mix Modeling - MMM
Tom Papantos
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Posted Apr 9, 2024
Maximize revenue by optimally allocating your budget in the correct marketing channels. Marketing budget optimization using Machine Learning and Python.
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Mott & Bow
One key question in a business is how much to spend in each marketing channel to maximize revenue. I helped answer this question using machine learning models known as marketing mix modeling or media mix modeling, aka MMM (Lightweight MMM, Robyn MMM and an in-house version I developed). Although the output is not necessarily how budget is finally allocated, it’s one of the main inputs taken into account to reach the final decision.