Archive for the ‘For Analytics and Statistics Professionals’ Category
When you need more than response models
Monday, July 6th, 2009
Today’s sophisticated analytical approaches have proven to deliver increasingly better results. But does uplift modelling predict different things from non-uplift models?
It’s perhaps easier to say when they predict the same thing. This is usually when there is essentially no behaviour in the control group. For example, if a set of people purchase product X after a mailing, but no one purchases it without the mailing, and uplift model should predict the same thing as a conventional response model. Their predictions are most different when the variation in the change in behaviour opposite from the variation in the underlying behaviour.
For example, suppose the background purchase pattern (the one you see if you don’t do anything) is that mostly men by product X, but the effect of a marketing action is to make more women buy it, but fewer men, even though still more men than women buy when treated. In this case, uplift models will make radically different different predictions from “response” models.
A response model will concentrate on the fact that more men buy (when treated) that women; but an uplift model will recognize that women’s purchases are increased by the treatment whereas men’s is suppressed.
Posted in For Analytics and Statistics Professionals | 1 Comment »
Welcome to Campaign Checkup
Sunday, July 5th, 2009
Welcome to the free online tool that has the potential to revolutionise your marketing campaigns.
There is a wonderful moment of ‘dawning’ whenever we explain what Uplift Modeling (the engine behind Campaign Checkup) can deliver. It’s that ‘wow’ look which we hope to replicate many times over using this online tool.
A small word of warning though, after your ‘wow’ moment you will quickly morph into asking questions like ‘but how?’ and ‘would it work for me?’ Rather than have you perplexed, we suggest that you gather your last campaign’s data (including from your control group and your per unit financial data) and complete a checkup on your campaign.
That way you can see exactly the potential budget savings and ROMI for your campaign based on your data. The form for the checkup is here.
Please feel free to browse the site, read the documents, listen to the webinars and comment on the blogs.
Posted in For Analytics and Statistics Professionals, For Direct Marketers, For Marketers & Students | No Comments »