On July 12, 2022, forecasting, and product experts shared frameworks and strategies for participants to consider as they plan amid disruptions in the industry. Presenters discussed techniques marketers could use to drive consumer action and advocacy — as well as econometric models for search trends, insights on holistic analytics programs, reflections on gold standard probability methods — and new forecasting techniques in the wake of the pandemic and more.Member Only Access
Email advertising can increase spending in actual, physical retail stores, new statistical tools show. If this is not uplifting enough for those who deal with such advertising, analysis published in an MSI working paper found something else surprising. The effects are highest among consumers with fewer recent interactions with that particular retailer.
While Randomized Controlled Trials (RCTs) are ideal for advertising measurement, it is not always feasible to conduct one. Until advertising platforms are willing to provide more information about how they deliver targeted ads or implement auctions, alternative observational methods are unlikely to reliably estimate causal effects. That includes utilizing newer machine learning techniques.Member Only Access
Random controlled experiments for A/B testing help improve things like a company's marketing or customer service. However, individually optimizing interventions may not always capture interactions across the entire purchase decision journey. To optimize interventions more holistically, use a Bayesian reinforcement learning model. It can integrate multiple historical experiments, which can improve both current impact as well as future learning.Member Only Access
Research and advisory company Gartner shared their insights on top trends in data and analytics technology and practices. These can help anticipate change and transform uncertainty into opportunity, driving new growth and increasing efficiency, resilience and innovation. Read more »
Advertising can trigger cognition, affect or experience, according to the influential Hierarchy of Effects (HoE) model. The following study valides the basic integrated HoE model. However, it also finds that operating sequence varies across brands. The predominant one is affect → cognition → experience (ACE).Member Only Access