Introduction¶
The significance of this project lies in its alignment with the current data-centric approach in marketing. By integrating advanced analytical techniques such as Multi-Touch Attribution (MTA), our objective was to derive practical insights that resonate with the strategic goals of our stakeholder. The examination of stakeholder's promotional data from the e-commerce platform serves as a pivotal case study, enabling us to gauge the efficacy of different marketing initiatives and to forge predictive models that enhance decision-making and marketing performance.
Data Review¶
This is an example of a row of our data.
| path | converters | nonconverters |
|---|---|---|
| Purchase Ads γ > Purchase Ads γ > Consideration Ads β > Consideration Ads β > Awareness Ads α | 0 | 2 |
A path represents a uniqle user journey. In this example, there are totally five touchpoints in this journey, the first touch point is "Purchase Ads γ" follow by "Purchase Ads γ", and the last touchpoint is "Awareness Ads α". There are 2 users experienced this journey and they both did not convert.
To understand the conversion ratio in our dataset, conversion rate is defined using the following formula: $$ Conversion\ Rate = \frac{Total\ Conversions}{Total\ Conversion + Total\ Non-conversions}$$