Marketing Mix Modeling requires that we identify the correct interaction effects, account for halo effects as well as calculate the lag of influence for the different marketing factors. These are computationally challenging tasks and take significant time to develop, and even after that there is a chance that the solution identified is not globally optimal.
Jigyasa Analytics Methodology research team has been working to develop a solution to this problem, and we are very happy to announce the launch of RapidMMM — a customized solution for quick and exhaustive development of Marketing Mix Models. The RapidMMM approach uses proprietary alogrithms to run thousands of model iterations and come up with the best performing model within hours, and yet can be customized to individual business needs and nuances.
Without the use of these algorithms, it would take weeks to run all the iterations and this now allows us to develop models faster and more importantly, expand the scope of what can be investigated within the timeframe of a typical marketing mix model project.