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Summary
As privacy changes make it harder for marketers to track individual customer journeys, media and marketing mix modeling (m/MMM) is experiencing renewed interest. Open-source tools from Meta, Google and the PyMC ecosystem promise to make these methods more accessible, particularly for organizations without the resources for customized proprietary models. In this MSI working paper, Julian Runge and Koen Pauwels evaluate the leading open-source approaches, examining their capabilities, differences and tradeoffs. Their analysis shows that while automation can democratize sophisticated marketing measurement, using these tools responsibly requires careful attention to model assumptions, diagnostics, calibration and validation.
