W2: Kinley, J. (2019). Data-Driven Marketing Attribution Custom Attribution with Cooperative Game Theory.

Question 1

What are the drawbacks of traditional marketing attribution models?

Answer 1

Traditional models are rules-based and lack flexibility, leading to inaccurate credit allocation to sales conversions.

Question 2

What is the key advantage of data-driven marketing attribution?

Answer 2

It captures intricacies of buyer journeys and accurately models interactions of channel combinations.

Question 3

What concept from cooperative game theory is applied in data-driven marketing attribution?

Answer 3

The Shapley value, which fairly divides credit for sales conversions based on the average marginal contribution of each channel.

Question 4

What are the benefits of using the Shapley value in marketing attribution?

Answer 4

Deeper insights into channel performance, fair division of credit based on measured contributions, and optimization of marketing investment.

Question 5

How is the characteristic function used in marketing attribution?

Answer 5

It defines the worth of each channel coalition, considering aspects like total revenue, sales conversions, conversion ratios, and conditional probabilities.

Question 6

According to the conclusion, what does the Shapley value provide to marketing departments?

Answer 6

An accurate and tailored solution for attribution, offering more accountability and efficiency than rules-based models.

Question 7

How does data-driven marketing attribution differ from traditional models?

Answer 7

Data-driven attribution provides a more accurate view of channel performance by modeling how different channel combinations interact with buyers.