Olen  Predovic

Olen Predovic

1600731360

The Benefits of Budget Allocation With AI-Driven Marketing Mix Models

Introduction

The call for accountability in marketing has been growing over recent years to justify total investments in the area. Furthermore, to allocate budgets across different marketing channels, managers have been trying to better understand their contribution to sales. To model the impact of marketing on sales, time-series approaches have been proven to be successful. However, Allergan’s experience and academic research shows that marketing attribution models are challenging as the complex relationships between variables need to be identified and model structures need to be defined. […] This is a very cumbersome, manual process, which takes weeks or even months to accurately define even just one marketing attribution model for one brand, given that companies usually have a broad product/brand portfolio or different customer segments to analyze. But there is good news! New AI algorithms and techniques cover those weaknesses, such as Gradient Boosted Machines (GBMs) and Shapley values that make marketing mix modelling approaches more accurate and scalable for a higher number of stores, brands, products, or customer segments.

#marketing-analytics #marketing #data-science #budget-allocation #ai

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The Benefits of Budget Allocation With AI-Driven Marketing Mix Models
Olen  Predovic

Olen Predovic

1600731360

The Benefits of Budget Allocation With AI-Driven Marketing Mix Models

Introduction

The call for accountability in marketing has been growing over recent years to justify total investments in the area. Furthermore, to allocate budgets across different marketing channels, managers have been trying to better understand their contribution to sales. To model the impact of marketing on sales, time-series approaches have been proven to be successful. However, Allergan’s experience and academic research shows that marketing attribution models are challenging as the complex relationships between variables need to be identified and model structures need to be defined. […] This is a very cumbersome, manual process, which takes weeks or even months to accurately define even just one marketing attribution model for one brand, given that companies usually have a broad product/brand portfolio or different customer segments to analyze. But there is good news! New AI algorithms and techniques cover those weaknesses, such as Gradient Boosted Machines (GBMs) and Shapley values that make marketing mix modelling approaches more accurate and scalable for a higher number of stores, brands, products, or customer segments.

#marketing-analytics #marketing #data-science #budget-allocation #ai

Daron  Moore

Daron Moore

1596342420

Top 5 Benefits of Artificial Intelligence in Marketing!

_Leveraging incredible advantages of Artificial intelligence is now a trend. _Marketing Strategists and trendsetters are looking up to this advanced technology to their top-line revenues. The technology‌ ‌has‌ is ‌stunning‌ ‌the‌ ‌world‌ ‌with‌ ‌its‌ ‌latest‌ ‌innovations.‌ ‌

_The global __Artificial Intelligence market _size was valued at USD 24.9 billion in 2018 and is anticipated to expand at a CAGR of 46.2% from 2019 to 2025.

Businesses worldwide are leveraging AI benefits to render improved customer experience and enhanced personalization to users. With its incredible potential to analyze data for extracting meaningful insights thus helping business organizations in making better business decisions, advanced AI techniques are being used in the marketing field too.

_In fact, with the growing focus on customer data, roughly half of global _marketing professionals have adopted AI_ to help with data analysis. Further applications include _marketing personalization, audience identification, email campaign automation, customer service automation, just to name a few.

__5 Uses of AI in Marketing!

Artificial Intelligence enables marketers to create highly personalized consumer experiences that cost significantly less than traditional high-dollar campaigns. Every interaction a prospect or consumer has with a product or solution is kept as a future reference.

With Artificial Intelligence Marketing strategies poised to overtake the marketing industry, it’s now important for marketers to understand the benefits of using this incredible technology. Here are 5 ways Artificial Intelligence is used in Marketing. Let’s read further to know more about the benefits of using Artificial Intelligence in Marketing.

#artificial-intelligence #benefits-of-ai #ai #ai-for-marketing #ai-in-marketing

Artificial Intelligence & Marketing: Do They Feasibly Match? - TopDevelopers.co

The use of AI in marketing will help to improve user experience and boost ROI with insights on targeted customers using machine learning & deep learning.

With all these examples of how AI technology helps in marketing, the advancing technology is not going to stop making further contributions to transform the world of marketing. The applications of AI with marketing fundamentals that we see today are just some of the initial ones, the Revolution has just begun. The ultra-personalization of services/products is an upward trend and this can only be achieved by knowing your customers closely and predicting the user intent. There are many reasons accountable for why these technologies take on such special importance and will continue to do so in the future with their ever-widening scope of bringing revolutionary changes.

#marketing reshaped by artificial intelligence #ai technology helps in marketing #role of ai in marketing #top digital marketers #applications of ai #ai technology

Uriah  Dietrich

Uriah Dietrich

1618521240

Only Data-Minded Marketers and Market-Minded Developers Can Achieve Data Driven Marketing

Using data as a part of your marketing plan can have a tremendous impact on your overall results, which is why data-driven marketing has become the standard for many agencies.

However, data-driven marketing may require many businesses to rethink the way they work, especially when it comes to cooperation between their various teams.

You may have heard about the concept of collaboration and automating processes before - something referred to as webops. Now an increasing number of companies are throwing marketing into the mix.

Among the most important factors is a close working relationship between marketing and web development teams if a business wants to make the most of data-driven marketing.

#data-driven #data-driven-marketing #web-development #marketing-data-science #teamwork #data-driven-development #data-driven-decision-making #webops

Otho  Hagenes

Otho Hagenes

1619511840

Making Sales More Efficient: Lead Qualification Using AI

If you were to ask any organization today, you would learn that they are all becoming reliant on Artificial Intelligence Solutions and using AI to digitally transform in order to bring their organizations into the new age. AI is no longer a new concept, instead, with the technological advancements that are being made in the realm of AI, it has become a much-needed business facet.

AI has become easier to use and implement than ever before, and every business is applying AI solutions to their processes. Organizations have begun to base their digital transformation strategies around AI and the way in which they conduct their business. One of these business processes that AI has helped transform is lead qualifications.

#ai-solutions-development #artificial-intelligence #future-of-artificial-intellige #ai #ai-applications #ai-trends #future-of-ai #ai-revolution