Marketscience Launches BaseDynamics: A More Accurate Measure of Short- and Long-Term Marketing Effectiveness
NEW YORK and LONDON, November 11, 2021 / PRNewswire / – Independent marketing analytics firm Marketscience today announces the launch of BaseDynamics, a holistic approach to marketing mix modeling to quantify short and long term marketing effects, validated by published research and peer reviewed by the partner and founder of Marketscience, Dr. Peter Cain in the International Journal of Research in Marketing (IJRM).
Modern marketing mix models have focused on moving from a silo view to measuring the cross-channel and synergistic effects that exist in today’s more complex purchasing path. While such approaches claim to solve last-touch attribution issues and provide a more realistic estimate of marketing ROI, they fail to address two fundamental issues:
- Selection bias for last-hand acquisition marketing channels
- Appropriate representation of long-term brand building
Failure to address these issues leads to continued poor assessment of marketing effectiveness and a lack of credibility with financial services. BaseDynamics tackles both issues head-on, providing a truly holistic measurement framework.
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What impact does the BaseDynamics approach have on the results?
At the official launch of BaseDynamics, Dr Cain said: âIt is essential to provide more clarity on the real science behind marketing analysis in these days of increasing focus on techniques. measurement and automated machine learning. ” David Dixon, Managing Partner at Marketscience, agrees, adding that âBaseDynamics has already been successfully deployed to many of our clients where we have seen differences in optimal budget allocations ranging from 20% to 60% and more. academic thanks to our research, noted as an “excellent and important contribution” by the publisher IJRM PKKannan, only serves to strengthen the credibility of our approach. “
“BaseDynamics allows us to measure the short and long term impacts of marketing in a comprehensive consumer demand model” states Sam tomlinson, Marketing & Media Manager at PwC UK. âNot only does this provide a basis for measuring marketing effects that is credible with the CFOâ added Jon gillham, Chief Economist at PwC UK, “It is also a practical and scalable framework for marketing mix modeling with a rigorous academic foundation.”
Marketscience is an award-winning innovator in the field of advanced marketing analytics and its team of dedicated and diverse professionals are committed to serving clients worldwide and empowering marketers worldwide with confidence. More information at www.market.science Or contact: [emailÂ protected]