Optimize marketing potential with ML powered analytics platform
Application screenshots
Problem statement
Measuring ROI (Return on Investment): It can be difficult to accurately measure the return on investment of an advertisement campaign, as there may be several factors that contribute to sales, and it can be challenging to isolate the impact of the advertisement.
Assessing reach and engagement: Marketers need to assess the reach of the advertisement and gauge how engaged the target audience is with the advertisement.
Dealing with limited data: Marketers often have limited data to work with, which can make it challenging to assess the success of an advertisement campaign.
Identifying the right metrics: There are many metrics that can be used to measure the success of an advertisement campaign, and it can be challenging for marketers to identify the most relevant and meaningful metrics for their specific campaign.
Managing budgets: Marketers need to manage budgets effectively, balancing the cost of the advertisement campaign with the expected return on investment.
Solution Overview
OptiSol partnered with a startup to develop a machine learning model to evaluate the performance of an advertisement campaign.
We used various advertisement variables like cost per click, click rate, and cost per result to train our ML model.
Marketers can access the results through a dashboard, where they can view performance reports for each advertisement, including the overall cost per click.
The actionable insights from the solution helped the marketers determine the areas of improvement, and visualized trends, and patterns, to attain an informed decision.
The solution also involved building a regression model to predict the cost per result of an advertisement campaign.
Business impact
Improved accuracy and efficiency: The insights generated by the machine learning model can help marketers make more informed decisions about their advertisement campaigns.
Increased efficiency: The machine learning model can automate and streamline the data analysis process, saving marketers time and resources.
Improved cost management: The machine learning model can help marketers optimize their advertisement campaigns by predicting the cost per result and identifying areas for improvement.
Increased ROI: By making more informed decisions and optimizing their advertisement campaigns, marketers can increase their return on investment.
Better targeting: The machine learning model can help marketers better understand their target audience and create more effective advertisements.
