MMM assists marketers in optimizing future spends and maximizing effectiveness (i.e. it establishes which mediums are working better than others). Then, budget allocation is done, by shifting money from low ROI mediums to high ROI mediums, thus maximizing sales while keeping the budget constant. Types of MMM MMM can be built using regression methods and […]
As someone who does volunteer career coaching, I have unexpectedly been fielding some questions from prospective consulting candidates about how best to manage a second job while attending to a consulting career. The people I talked to wanted to continue doing something they were passionate about, things like running a start-up or bartending. I’m sure […]
What is essential for successful marketing mix modeling? Regardless of method, MMM can be successful only if accurate and highly specific data are available upon which the modeling can be based. The greatest barrier to successful modeling is always a lack of relevant, specific, accurate data. So, the first step in any modeling effort is […]