I like the idea that they are measuring.. but it seems silly compared to running an ad, counting the dollars that come in, and simply determining if it made you any money.
The "creative types" in advertising hate all this of course
WSJ.com - Econometrics Buzzes Ad World As a Way of Measuring Results: "'There is no doubt in my mind that scientific analysis, including econometrics, is one of the most important areas in the marketing-services industry,' Sir Martin says in an interview.
Econometrics uses statistical analysis to measure the relationship between different sets of events, such as the effect of educational qualifications on wage levels. To determine an advertisement's effectiveness, econometricians write an equation to measure the effect on sales of different factors, including the weather, price cuts and advertising. For the advertiser, the purpose is to help decide which ads to run."
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