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How Bayesian Tail-Risk Modeling can save your Retail Business Marketing Budget
This story was originally published on HackerNoon at: https://hackernoon.com/how-bayesian-tail-risk-modeling-can-save-your-retail-business-marketing-budget.
Why average ROI fails. Learn how distributional and tail-risk modeling protects marketing campaigns from catastrophic losses using Bayesian methods.
Check more stories related to data-science at: https://hackernoon.com/c/data-science.
You can also check exclusive content about #data-science, #statistics, #machine-learning, #retail-marketing, #e-commerce, #digital-marketing, #marketing, #hackernoon-top-stories, and more.
This story was written by: @dharmateja. Learn more about this writer by checking @dharmateja's about page,
and for more stories, please visit hackernoon.com.
E-commerce marketing is often represented in terms of Return on Investment (ROI) But looking specifically at average ROI can be very misleading. Marketing outcomes can have "fat tails": rare but extreme events on the downside which conventional models' underestimate.
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By HackerNoonThis story was originally published on HackerNoon at: https://hackernoon.com/how-bayesian-tail-risk-modeling-can-save-your-retail-business-marketing-budget.
Why average ROI fails. Learn how distributional and tail-risk modeling protects marketing campaigns from catastrophic losses using Bayesian methods.
Check more stories related to data-science at: https://hackernoon.com/c/data-science.
You can also check exclusive content about #data-science, #statistics, #machine-learning, #retail-marketing, #e-commerce, #digital-marketing, #marketing, #hackernoon-top-stories, and more.
This story was written by: @dharmateja. Learn more about this writer by checking @dharmateja's about page,
and for more stories, please visit hackernoon.com.
E-commerce marketing is often represented in terms of Return on Investment (ROI) But looking specifically at average ROI can be very misleading. Marketing outcomes can have "fat tails": rare but extreme events on the downside which conventional models' underestimate.