Monday, 22 October 2012

Agent-Based Modeling | Marketing Mix Optimization Whitepaper

Fundamental shifts in the consumer marketing landscape have created a demand for better ways to understand both consumers and the marketing used to influence them. Historically, firms have used a variety of statistical techniques to build mathematical representations of the relationship between marketing spend and the resulting outcomes, typically some measure of sales. And in the past when there were fewer options on how to spend marketing dollars, these techniques fit the requirement well. Today, the number of options available to connect with consumers has exploded – each with unique measurements, resulting in a general lack of confidence in the effectiveness of traditional statistical modeling tools.