Sausages And Modelling Advertising
Karl Weaver Data2Decisions Limited
There exists a wide spectrum of views about the use of econometrics and specifically its ability to quantify the impact of advertising. Some say the technique is the holy grail of marketing, whereas others consider econometrics to be the work of the devil.
Why is it that such markedly different views exist? I believe it is because there remain too many occasions when the abilities of econometric models are oversold and/or not properly explained. As a client you may have been in the unfortunate position where a modelling consultant has not...