iPredictt Data Labs launches marketing ROI tool using big data

iPredictt Data Labs, an innovative big data analytics provider of machine learning software to solve the complex data challenges, has announced the launch of iPredictt MMM+, an advanced prescriptive media mix model. Built using Big Data tools, MMM+ is the newest and most advanced method for Marketing Mix Modelling.

It brings in real time data, social perception, accurate mapping of diminishing returns, quantified delay in sales, cross channel attribution and ability to simulate media spending scenarios, in one solution. MMM+ allows data transformation to best fit non-linear relationships between advertising variables, product sales, brand strength in competitive scenarios, awareness and market share.

Rohit Verma, CEO, iPredictt Data Labs, said, “MMM+ is a leap enhancement in the way brands evaluate optimal marketing spends and return on investments. Using Big Data tools, iPredictt’s MMM+ will not only decipher past performance of marketing channels, but also prescribe spend marketing dollars optimally in the future. Traditional Marketing Mix Modelling or MMM is laced with biases as they do not incorporate impactful dimensions such as large volume of social data, channel lag, channel fatigue, etc. No other solution currently captures all of these together.”

Currently sized at over Rs 48,000 crore, the advertising industry is growing rapidly and everyone associated needs to recognise the need to link marketing spend back with performance matrix.

Headquartered in Mumbai, iPredictt Data Labs provides machine learning software to B2C, B2B companies to solve their complex data challenges. iPredictt Data Labs differentiates itself by offering premium data science solutions that are customised for businesses trying to mine their data for getting better Return on Technology Investment. It is a full stack data analytics service provider that has built product accelerators which encompass end to end data analytics requirements to support all verticals and functions within a digital and offline company, such as Retail and E-commerce analytics, Telecom, Health, Consumer goods, HR, Travel, and Mobile apps.