Analytics & Data Science

FORECASTING 2022: How Can Scenario Planning Improve Agility in Adjusting to Change?

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.

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Measuring the High Consideration Customer

  • Cree Lawson, CEO of Arrivalist

Is there a better way to measure the digital behavior of consumers considering a complex or expensive purchase and improve outcomes going forward? Measurement company Arrivalist shared techniques they have used successfully, illustrated with six case studies. Their work has application for both considered and impulse purchase brands.

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Micro Targeting Can Dramatically Improve Facebook Performance

  • Steve Meester; Newcombe Clark
  • AIG Rapid Learning Lab

The authors describe a series of design experiments used to optimize Facebook targeting and retargeting to buyers of travel insurance. Using different creative for different micro-targets, the authors raised prospecting sales lift by four times and retargeting sales lift by 60%. Additional findings included that age did not determine click thru rate, but under thirty-five and over sixty-four rarely purchased.

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Principles of Data Quality

  • Gerard Broussard
  • The Coalition of Innovative Media Measurement

To improve data quality, the marketing and advertising industry could establish a “Principles of Data Quality” disclosure; create a roster of items to ask of data suppliers; request transparency—data firm disclosures—including consumer authentication procedures, multiple data source descriptions, model target techniques and testing results, recency of data, integration techniques, data labeling, and top-line descriptions for all of the above; create best practice standards.

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