Aveneu Park, Starling, Australia

Attribution small steps to ensure full funnel

Attribution

Companies use multiple media to communicate their product
effectively. ROI is usually taken as a measure of effectiveness of these
advertising campaigns. However each channel investment might contribute
independently to the consumer’s purchase decision making journey. As a result
most of the measurements today have an overlap in assessing the impact between
multiple channels.  This issue is what is
referred to as swimlane measurement
in advertising analytics.  As discussed
by Kim Reed Perell 1, “Companies
should wean off the last-click model within a single channel where ad spending
and serving is unified. Then, companies should take small steps to ensure full
funnel attribution within that channel.”

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A swimlane diagram or cross-functional diagram documents the
steps in a process or workflow.  It
groups these activities into swimlanes (horizontal or vertical columns) containing
those activities which fit into the category represented by that swimlane 2.
In order to address the overlap in ROI computation as a result of swimlane
effect, we thought we could integrate the swimlane diagram and map it to the
consumer decision journey. With each media channel, the impact on the consumer
would be on a particular stage of decision making. For example, viewing a
billboard would drive awareness of the brand while a discount / point of
purchase display would drive the final purchase action. The following diagram
illustrates that:A similar approach was followed to identify process
improvement opportunities using swim lane diagrams and integrating flow chart
components into it in the Perkin Wills Research journal 3CONCLUSION

Big
data is no longer a buzz anymore. The field has been constantly evolving with
companies moving in quick pace to keep up with the rise of the industry.
Analytics 2.0 has emerged and companies have adapted some of it into the system
and now Analytics 3.04 has occupied the stage. Analytics 3.0 aims
to extend the incorporation of analytics not just to the company processes, but
also to the products/services it sells. With the increasing volumes of data
there is a larger scope to understand the markets and consumers better at
multiple levels and mine relevant insights for new product development. A live
example of Analytics 3.0 implementation is the conceptualization of Software
Innovation group by Bosch. As we move ahead we also intend to look at not just
the conceptual models behind Analytics 2.0 but also understand how it is
applied in the industry.

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