Marketing Minute 072: “What is Attribution in Digital Analytics?” (Digital Marketing Analytics)
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Attribution models are becoming commonplace in digital marketing. Learn what they are and how you can benefit from them on today’s #MarketingMinute.
Digital marketing analysts talk a lot about “Attribution Models,” but what is “Attribution” and how is it useful?
“Attribution modeling” is the science of assigning, or attributing, causality. In marketing practice, it means we explore which marketing activities or messages or elements are influencing our audiences’ responses, and how much impact each activity or message or element is having on a particular response.
This concept has been used for centuries, as long as scientists have been trying to discover the “causes” of various “effects.” But the difficulty in determining true attribution, that is, the true causes of buyer actions, is that there are a huge number of potential causes of human behavior, and many of them interact with environments, situations, personalities, and other marketer actions, whether the data scientists realize it or not.
To help resolve this dilemma, quantitative attribution testing needs to be combined with qualitative examinations of buyer psychology and the marketing environment.
Yes, data science can help you compete in the digital marketspace, but in the long-run, nothing beats getting to know your customers.
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