What we know about econometric modelling

Provides an overview of how econometric modelling can help marketers understand how much each media channel contributes and over what timescale.

Econometric modelling is a broad-level analytical approach that enhances understanding of marketing effectiveness and the benefits of long-term advertising. Econometric modelling can determine which media channels offer the best return on investment, and can enhance creative strategy. Better suited to a macro context, the limitations of econometric modelling are exposed when it comes to offering immediate and actionable real-time insight.

Definition

Economic modelling stems from econometrics – the branch of economics concerned with the use of mathematical methods (especially statistics) in describing economic systems. By employing economic variables, econometric modelling can determine how movements in sales or other brand KPIs...

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