Adobe Introduces Marketing Mix Modeling
Adobe today previewed the upcoming release of its Marketing Mix Modelling, an artificial intelligence-powered feature to allow marketers to better forecast and optimize marketing budget allocation across both digital and offline channels.
Predictive insight from Marketing Mix Modelling, which uses Adobe's Sensei AI platform, can be combined with data gleaned from Attribution AI, which analyzes historical impact of previous conversion events, to provide organizations with a cohesive and comprehensive marketing spend optimization assessment.
Ali Bohra, director of product marketing at Adobe, sees this as a new business imperative.
"One of the challenges that brands face today is trying to accurately forecast how to best allocate budgets to support a wide range of marketing initiatives. While historical context can be invaluable in helping to inform future strategies, companies must also be able to act fast and quickly evolve their strategies at a time when the move to digital has greatly accelerated," he said in a blog post.
"The biggest challenges organizations face with AI are to identify the best use cases and then set up, implement, and manage the algorithms and data feeds appropriately," said Gerry Murray, research director for marketing and sales technology at IDC, in a statement. "Adobe simplifies these challenges by embedding AI and ML capabilities via Adobe Sensei into Experience Cloud applications, enabling marketers and data scientists to quickly design and deliver compelling customer experiences that learn from and adapt to customer behavior over time."