Marketing ROI measurement as we know it is changing, and the era of big data is in full swing.
In the past 10 years, the quantity of measurable data points has multiplied by 1,000 times.
Rex Briggs of Marketing Evolution explains that, for ROI modelling to be truly effective, changes need to be made at the system as well as the mindset level.
Enter the ROI BrainTM, which uses elastic net and other machine learning approaches to transform data into insights in real time and at the individual level.
The 6 approaches include:
- 'Media ROI' is a Misnomer
- Linking Brand Equity to Behavior
- Insights to Actions
- New Data Inputs and Structures
- New Analytics
- New Output
