Company
Date Published
Author
Sylvain Giuliani
Word count
1159
Language
English
Hacker News points
None

Summary

The modern world of marketing relies heavily on data science and attribution modeling to better understand customers and optimize sales funnels. Attribution modeling allows marketers to determine how credit is assigned to each marketing channel or touchpoint for a given conversion, enabling them to make informed decisions about which tactics to pursue and how well a campaign is working. There are several types of attribution models, including first-click, last-click, linear, last non-direct click, time decay, and position-based models, each with their own pros and cons. To implement attribution modeling, marketers can use various methods such as doing it themselves in Python, using Google Analytics, or leveraging third-party tools like Bizible. By assigning credit to marketing channels or touchpoints, attribution modeling helps marketers increase return-on-investment (ROI) and customer acquisition costs.