asiCast 141: Market modelling – from measurement to effectiveness
Media spend is typically assessed in terms of audiences – the numbers reached, ratings bought and CPMs achieved serving as proxies for business success. Yet, although market modelling can often provide a more adequate assessment, it’s use is not as widespread as perhaps it should be. In this asiCast, Brian Jacobs of BJ&A discusses some of the reasons with David Beaton of Navigation ME.
On the demand side, David suggests that too many advertisers are unfamiliar and uncomfortable with evaluating advanced analytics and understanding their strengths and weaknesses. On the demand side, although data science has been described as one of the sexiest jobs of the decade and there has been an increase in those training in the discipline, there is still a skills shortage.
This shortage is sure to be met once people realise the benefits that accrue with the application of advanced analytics. Clients are looking out for more tools to be available to them to support decision-making, and sophisticated analytics will increasingly become embedded in advertisers’ buying processes. As David points out, one thing Google has taught the marketing community is that, if you embed really smart algorithms behind an easy-to-use interface, you get some pretty powerful effects.
David Beaton will be speaking at the 2022 asi International Television & Video Conference in Nice on 2nd to 4th November.
To listen to the interview, press play below or click here.
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