Markov Chain Attribution Modelling
Last Updated on July 15, 2023 by Editorial Team
Author(s): Snehal Nair
Originally published on Towards AI.
Can you attribute correctly to a channel that brought in conversion for you?
Customer journey has always been a challenging area of study for marketers. With access to blogs, reviews, and social media platforms, the customer journey has been getting longer for the past two decades, which poses a challenge for marketers in attributing correctly to a channel for conversion. In this blog, we will go through one of the data-driven models, like the Markov Model, to find the channel importance given the customer journeys.
Before purchasing a product (converting), a customer goes through multiple channels (touchpoints) such as Google ads, Facebook, Organic search, or Direct. It’s imperative to understand the customer journey to… Read the full blog for free on Medium.
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