Google has launched Meridian, an open-source marketing mix model (MMM).
Meridian relies on Bayesian causal inference that allows businesses to blend prior knowledge with real-world data in order to reveal the true incremental impact of marketing efforts.
With Meridian, advertisers will be able to gain access to the MMM Data Platform, meaning they'll receive core MMM data (such as impressions, clicks and cost) for Google media, but also new value-add dimensions such as Google Query volume.
Meridian also analyses campaign performance based on KPIs such as sales, website visits, profit and conversions. As a result, businesses can understand historical performance and run multiple optimisation scenarios, as well as including other non-media variables to factor the impact of pricing and promotions on KPIs.
To support marketers on their implementation, Google is introducing a partner program with over 20 measurement partners trained and certified on Meridian, including six in the APAC region: Accenture, Annalect, Analytic Edge, Dentsu Digital, Monks and D.A. Consortium.
WARC's 'The Voice of the Marketer 2025' report revealed that worldwide, most marketers (93%) employ one or more measurement techniques, and that while more than two-thirds (67%) of marketers conduct brand health tracking, less than half (45%) use econometrics and marketing mixed modelling (MMM).
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.