What does it do?
modelQED is used to create marketing mix models that analyse past performance and forecast future marketing plan . Models can be built manually or you can use the automated machine learning algorithm to search for a model; with this advanced capability you can run thousands of potential marketing mix models in a matter of minutes allowing you to quickly and easily:
- Identify the key drivers of sales, or other KPI
- Quantify the contribution from each media and marketing channel
- Determine the average and marginal ROI for each activity
- Estimate the response curve for each media and promotional channel
- Identify the right level of investment in each activity
How does it work?
Import your data, categorise each series (for example, is a variable an advertising or pricing series?) and you’re ready to start modelling. We always suggest charting your data first to sense check it and draw up some hypotheses, but this is easily done within modelQED. You can very quickly start to understand what are the key drivers of your sales and quantify your return on investment. What’s more everything is done with the click of a mouse - no coding required!
Who is it for?
modelQED is for anyone who wants to understand what is driving their business, be it sales, website visits or brand awareness. Often used by the Insight team, the individuals using modelQED should have a good understanding of the business and the marketing challenges being faced. Previous experience of modelling or statistics is not required. The modelQED tool includes a range of features such as functions that will prevent you from returning a model that doesn’t make common sense or custom charting options that enable you to tell the model story on your own terms.
How do you get started?
Contact us and we’ll be happy to discuss your requirements and help you determine if this approach will meet your needs. If modelQED is the right tool for you, we will be happy to help you get started by setting up the initial analysis for you.