Econometrics as an aid to creativity
Holmes & Cook
Econometrics is not just a tool for media optimisation but can be used to improve creative strategies.
In recent years, we have seen rapid growth in the use of econometric analysis, testament to its being a highly capable research tool with a broad spectrum of applications. What we also seem to be seeing is a veer towards its use primarily as a media optimisation tool, whilst we potentially lose sight of its ability to inform creative debate too.
This is understandable in the current climate. Like many research techniques, the focus of econometrics can bend to follow fashion and it has been a powerful contributor in the dash to measure RoI and to deploy tightening budgets efficiently. And, although we can't have exact figures, an increasing percentage of modelling is by media agencies, whose interest is understandably to focus specifically in that arena, identifying thresholds and points of diminishing returns.