A step-by-step guide to calibrating marketing mix models with experiments
Harpreet Patter, Igor Skokan, Gufeng Zhou, Will Shepherd and Arturo Esquerra
Calibration is the process of aligning marketing mix modeling (MMM) with a causal, ground-truth measurement such as experiments.
1. Understanding the importance of calibration
The ability to accurately measure the incremental impact of all marketing and non-marketing activities is crucial for informed decision making. Marketing Mix Modeling (MMM), a decades-old technique, has re-emerged...