WHY ECONOMETRICS?
In an era of uncertainty, marketers must utilise all of the tools at their disposal to make budgets stretch further. A thorough understanding of marketing activity's impact on consumer behaviour is fundamental to success. Failure to grasp the complex dynamics between ad spend and response could leave businesses in a vulnerable position.
Econometrics is the answer to this conundrum. It is the language of attribution, the statistical underpinning of marketing mix modelling.
Applying winning data science techniques in the shape of econometrics is business’s best bet for navigating uncertain terrain and ensuring that budgets are optimally allocated to give the best returns.