Econometrics: Get the best from econometric modelling

This article discusses econometrics, arguing that the process of modelling is both a science and an art, and can produce results with different degrees of certainty.

Econometrics: Get the best from econometric modelling

Louise CookHolmes & Cook

Econometrics is often misunderstood and viewed with suspicion. But used appropriately it is a powerful tool to maximise the effectiveness of marketing strategies.

Econometric modelling allows us to determine how movements in sales or other brand KPIs come about. Were they driven by communications, price, weather or some other factor? As we build a model, we identify the key drivers and quantify their impacts over both the short and longer term. For communications, this is enormously helpful. It allows us to determine how much each media channel contributes...

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