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Facebook Media & Ads Review > Glossary Terms > Flashcards

Glossary Terms Flashcards

From the MarSci Study Guide provided by Facebook

1
Q

What is a test that allows you to conduct experiments that compare multiple targeting groups or campaigns by splitting audiences into randomized and mutually exclusive groups?

A

A/B Test

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2
Q

What is a Facebook pixel feature that allows websites to pass additional site-visitor information (such as email addresses or phone numbers)?

A

Advanced Matching

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3
Q

What is a hypothesis contrary to a null hypothesis, that there’s a relationship between two measured phenomena or an association among groups?

A

Alternative Hypothesis

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4
Q

What defines how software components communicate?

A

An API (Application Programming Interface)

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5
Q

What is the practice of assigning value to various marketing efforts?

A

Attribution

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6
Q

What determines how credit is given to touchpoints for a conversion, or the logic that determines how credit is given to touchpoints for a conversion?

A

Attribution Model

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7
Q

What three things can Attribution Model logic be based on?

A

A rule, a set of rules, or a statistical model.

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8
Q

What is the finite period of time during which conversions can be credited to a particular ad?

A

Attribution Window

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9
Q

What is an ad buying methodology in which the ads run based on the maximum bid and performance, where ads compete against each other in this process and the system determines the ones most likely to be successful to be displayed?

A

Auction

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10
Q

What is the amount an advertiser is willing to pay to achieve their desired outcome?

A

A Bid

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11
Q

What is a bid strategy that enables advertisers to set a maximum bid Facebook can use in each auction?

A

Bid Cap

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12
Q

What adjusts a bid or which auctions to enter based on how much budget and time are left for an ad set?

A

Bid Pacing

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13
Q

What is a setting in Ads Manager and Reporting that helps Facebook determine how to spend a budget to compete in a Facebook auction?

A

Bid Strategy

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14
Q

What is a measurement product that uses experimental design (randomized control trials) to detect brand impact that might be caused by ads run on Facebook?

A

Brand Lift

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15
Q

What is the amount of marketing expenditure allotted for each marketing activity?

A

Budget Allocation

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16
Q

What is one of the options in Ads Manager that determines the method by which you purchase ads on Facebook, either through auction or reach and frequency?

A

Buying Type

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17
Q

What is the number of times an ad or a link to a web page is clicked, compared with the number of times it’s displayed?

A

CTR (Click-Through Rate)

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18
Q

What is the group in an experiment or test for which none of the factors in the test are variable? It’s used as a benchmark to measure the effect of the test.

A

Control Group

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19
Q

What measures how effectively your ads drove the interactions you’re measuring?

A

Conversion Efficiency

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20
Q

What is a Facebook product that uses randomized control trials (RCTs) to measure the number of incremental conversions that result from Facebook ads?

A

Conversion Lift (usually an uppercase “L” in “Lift.”)

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21
Q

What is also a marketing metric that quantifies the number of additional conversions that result from Facebook ads?

A

Conversion Lift (usually a lowercase “l” in “Lift.”)

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22
Q

What is the percent difference in conversions between the people who did and didn’t see your ads during a test?

A

Conversion Lift Percent

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23
Q

What is the (estimated) number of a desired action (or clicks, or impressions) divided by the number of times an ad is displayed?

A

Conversion Rate

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24
Q

The (estimated) number of times a link on a web page is clicked, compared with the number of times it’s displayed is an example of what metric?

A

Conversion Rate

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25
Q

What is the period of time considered between seeing an ad and acting upon it toward the ad’s main goal (like generating a lead or making a purchase)?

A

Conversion Window

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26
Q

What is the bid strategy that enables advertisers to set a maximum average cost per optimization event for an ad set?

A

Cost Cap

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27
Q

Which bid strategy is being used in this example: Facebook will keep the average cost as far below that amount as possible, but keep showing ads until it’s reached?

A

Cost Cap

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28
Q

What is the cost to the advertiser each time an ad prompts an action?

A

CPA (Cost Per Action)

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29
Q

What is the cost to the advertiser each time an ad is clicked?

A

CPC (Cost Per Click)

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30
Q

What is the average cost for 1,000 impressions of an ad, or the average revenue received for 1,000 impressions of an ad on apps or websites?

A

CPM (Cost Per Thousand Impressions)

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31
Q

What indicates outcomes related to advertising across numerous online or offline channels, such as Facebook and television?

A

Cross-Channel Measurement

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32
Q

What is a logged action based on a specific action you want audiences to take on your website, app, or offline?

A

Custom Event

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33
Q

What is a tool that enables businesses to manage customers’ contact information and interactions through the customer life cycle?

A

CRM (Customer Relationship Management)

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34
Q

What is the average amount you’re willing to spend on an ad set or campaign every day?

A

Daily Budget

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35
Q

What is the process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making?

A

Data Analysis

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36
Q

Fill in the Blanks: In today’s business world, ___ ___ helps businesses to operate more effectively and make decisions more scientific.

A

Data Analysis

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37
Q

What is a tool, connection, piece or code, or other object that collects information, such as Facebook pixel, Facebook SDK, or offline conversions?

A

Data Source

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38
Q

What provides Facebook Ad information that can be used for measurement and analysis?

A

Data Source

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39
Q

What is a variable whose value depends on that of another?

A

Dependent Variable

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40
Q

What is a logged action that people take on your website, app, or offline, usually used for capturing and measuring ad performance?

A

Event

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41
Q

In marketing research, what is the observational method that examines a group of people exposed to an ad campaign and tries to find a match for each person in the non-exposed group?

A

Exact Matching

42
Q

In marketing research, what is the measurement method that shows different types of ads to separate groups of people in a controlled manner?

A

Experimental Method

43
Q

What is a Facebook measurement product that provides advertisers with cross-platform, cross-channel, cross-device, multi-touch attribution performance reports for ad campaigns?

A

Facebook Attribution

44
Q

What is the process of determining credit for touchpoints on a conversion path based on their estimated incremental impact and statistical modeling?

A

Facebook’s Data-Driven Attribution

45
Q

What is the piece of code installed on a website that

captures website events to measure actions taken from Facebook Ads?

A

Facebook Pixel

46
Q

What is data that a brand collects directly from its customers (for example, website activity data, sales data, and so on)

A

First-Party Data

47
Q

What is the rule-based attribution model that gives 100% of conversion credit to the first click or visit in a
conversion path?

A

First-Touch

Attribution

48
Q

What is a unit of measurement of audience size for TV advertisements?

A

GRP (Group Rating Point)

49
Q

Fill in the Blanks: _____ is used to measure exposure to one or more programs or commercials, without regard to multiple exposures of the same advertising to individuals.

A

GRP (Gross Rating Point)

50
Q

What test measures the total conversions caused by your Facebook ads?

A

Holdout Test

51
Q

What is a supposition or proposed explanation made on the basis of limited evidence?

A

Hypothesis

52
Q

Fill in the Blanks: A _____ is used as a starting point for further investigation.

A

Hypothesis

53
Q

What is a single instance of an ad or piece of content

(such as a post) appearing on screen?

A

Impression

54
Q

What is a variable whose variation does not depend on that of another?

A

Independent Variable

55
Q

Fill in the Blanks: The _____ _____ is the factor that is purposely changed or controlled in order to see what effect it has.

A

Independent Variable

56
Q

What is a randomization method that includes all randomized participants in a statistical analysis and analyzes according to the group they were originally assigned, regardless of what treatment (if any) they received?

A

ITT (Intent To Treat)

57
Q

What is the allocation of budgets across different

channels?

A

Inter-Channel Budget

58
Q

What is the metric selected to evaluate the success of a campaign or ad?

A

KPI (Key Performance Indicator)

59
Q

What is the amount you’re willing to spend over the

entire runtime of your ad set or campaign?

A

Lifetime Budget

60
Q

In the context of machine learning, what is the concept of allowing Facebook to determine the best placement, ad set budget and bids for a campaign?

A

Liquidity

61
Q

What is the bid strategy that provides the highest

volume of conversions for the available budget?

A

Lowest-Cost Bid Strategy

62
Q

What is the discipline that uses science, information and computer code to automatically predict certain
outcomes based on discovered patterns that are
not explicitly programmed?

A

Machine Learning

63
Q

What is the regression-based analysis that quantifies how much sales and thus return on ad spend can be correlated to each media channel in the mix, for both offline and online channels?

A

MMM (Marketing Mix Modeling)

64
Q

What is a test that runs multiple experimental designs at the same time?

A

Multi-Cell Test

65
Q

Fill in the Blanks: For example, in a two-cell _____ _____, cell A has two groups (test and control) and cell B has two groups (test and control).

A

Multi-Cell Test

66
Q

What is the process of considering credit for each touchpoint on a conversion path?

A

Multi-Touch Attribution

67
Q

What is an observational study in which subjects fall into either the exposed or non-exposed groups based on a naturally occurring event?

A

Natural Experiment

68
Q

What is an experimental method in which the treatment group for one test is subdivided into a control group and a secondary testing group?

A

Nested Test

69
Q

What is a general statement or default position in inferential statistics that there is no relationship between two measured phenomena or no association among groups?

A

Null Hypothesis

70
Q

What is the way of collecting data through observing?

A

Observational Method

71
Q

What is a general statement or default position in inferential statistics that there is no relationship between two measured phenomena or no association among groups?

A

Null Hypothesis

72
Q

What is it called when Facebook logs the opportunities for a test’s target audience to see the ad at some specific stage along the delivery funnel?

A

Opportunity Logging

73
Q

Tags like userId, studyId, dynamicHoldoutId, and isControl, used to scribe tables, are created by what?

A

Opportunity Logging

74
Q

What is the component of ad delivery whereby Facebook measures and projects a campaign’s end date to ensure a budget is spent as evenly as possible over the lifetime of an ad set?

A

Pacing System

75
Q

What represents the probability of obtaining test results at least as extreme as the results actually observed during the test, assuming that the null hypothesis is correct?

A

P-Value

76
Q

What is included alongside events to measure additional information about the product or service type people engage with on an app or website?

A

Parameter

77
Q

In marketing research, what observational method assigns everyone in the exposed and nonexposed groups a probability of being exposed; then people from each group are matched based on their similar probabilities?

A

Propensity Score Matching

78
Q

What is also known as the coefficient of determination?

A

R2 (R Squared)

79
Q

Also known as the coefficient of determination, what variable is the proportion of the variance in the dependent variable that is predictable from the independent variable(s)?

A

R2 (R Squared)

80
Q

What trial tests a hypothesis by introducing a treatment, studying the effects and determining the impact of your ad?

A

RCT (Randomized Control Trial)

81
Q

What trial tests a hypothesis by introducing a

treatment, studying the effects and determining the impact of your ad?

A

RCT (Randomized Control Trial)

82
Q

Fill in the Blank: Ultimately, an _____ can help determine how much to spend on each marketing channel in order to maximize results.

A

RCT (Randomized Control Trial)

83
Q

What is the number of people exposed to a medium at least once during a given period?

A

Reach

84
Q

What is a method of buying ads on Facebook that
allows advertisers to predict the audience size reached and control the average frequency that the audience is exposed to their ads?

A

Reach and Frequency

85
Q

In marketing research, what is the observational method whereby people build a model based on the observed data and use the model to predict the outcome of the campaign based on a set of observed variables, including whether or not people were exposed to the advertising campaign?

A

Regression Adjustment

86
Q

What is the economic indicator used to evaluate the effectiveness of ad spend. It is calculated as the ratio of the amount gained or lost relative to the amount invested?

A

ROAS (Return On Ad Spend)

87
Q

What is the economic indicator used to evaluate the efficacy of total media investment, including trade?

A

ROI (Return On Investment)

88
Q

Fill in the Blanks: _____ is calculated as the ratio of the amount
gained or lost relative to the amount invested.

A

ROI (Return On Investment)

89
Q

What attribution model lets you select the rule that will determine how conversions should be attributed to different touchpoints?

A

Rule-Based Attribution Model

90
Q

Associate each Attribution Model with the correct description:
______________________________________________________

Models: a) Single-Touch, b) Multi-Touch, c) Rule-Based
______________________________________________________

1) Lets you select the rule that will determine how conversions should be attributed to different touchpoints.
2) Gives credit to only one touchpoint
3) Gives credit to multiple touchpoints in the consumer’s conversion path

A

Answers:

a) –> 2)
b) –> 3)
c) –> 1)

91
Q

What is the additional revenue caused by ads in a test, when compared to the test and control groups?

A

Sales Lift

92
Q

What is the practice of marketing a business using paid advertisements that appear on search engine results pages?

A

SEM (Search Engine Marketing)

93
Q

What is a test with one test group, where group A is shown the ad and group B is not?

A

Single-Cell Test

94
Q

What is the piece of code installed on an app that captures app events?

A

ADK (Software Development Kit)

95
Q

What attribution model uses algorithms to determine credit for each touchpoint?

A

Statistical Attribution Model

96
Q

What metric represents the number of impressions bought per 100 people in an ad’s target audience?

A

TRP (Targeting Rate Point)

97
Q

How long a test runs for, from beginning to end, is called what?

A

Test Duration

98
Q

What is the name of this formula:

Advertiser Bid * Estimation Action Rates + User Value

A

Total Value Calculation

99
Q

What do you call the prediction of how engaging or relevant a user may find an ad based on available signals?

A

User Value

100
Q

What is the quantity or other piece of data that can assume different values?

A

Variable

101
Q

In Facebook Attribution, what do you call the number of times a person loaded your website from any channel (including paid, direct, organic, and untracked channels), as recorded by the Facebook pixel or SDK?

A

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Facebook Media & Ads Review (40 decks)

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