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Wednesday, March 25, 2009
Revenue Forecasting with Predictive Models
More and more clients are saying show me the money. Well the DigiFutures team is working on a model to see if we can forecast the return based on media spend. That may sound like a lot of hocus pocus, but it has been done a a large scale. A story just published in AdvertisingAge online about one of the top Interactive Agency in the country, Organic, came up with just an approach for Chrysler in which they predicted sales within a 1% of actual numbers based on media spend. See the story on their predict model If we can create a similar predictive econometric model for smaller scale purchases we would have an approach to help show companies how it makes sense to spend more online then not. Stayed tuned for more to come on revenue forecasting from click thru data.
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May sound like a lot of hocus pocus, but it has been done a a large scale. A story just published in Advertising Age online about one of the top Interactive Agency in the country, Organic, came up with just an approach for Chrysler in which they predicted sales within a 1% of actual numbers based on media spend.
we have achieved an extremely large pool of historical data covering multiple verticals. This enables us to build accurate models. Additionally, our extensive research of aggregated vertical data allows us to improve model accuracy even further.
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