<span id="version" style="color: grey; float: right">Version 1.0.0</span><br/>


# Project Overview: Marketing Mix Modeling 


#### What is Marketing Mix Modeling (MMM)?
Marketing Mix Modeling (MMM) is a powerful analytical technique used to evaluate the effectiveness of various marketing strategies and their impact on sales. By analyzing historical data, MMM helps businesses understand how different marketing channels contribute to revenue, allowing for more informed decision-making regarding budget allocation.

#### Introducing Meridian
For our project, we are utilizing [ **Meridian** ](developers.google.com/meridian), an open-source Python package developed by Google. This tool leverages Bayesian statistics to create robust marketing mix models that can easily be trained and interpreted. It is designed to be user-friendly, making it accessible for marketing teams without deep technical expertise.

#### Key Features of Our Web Application

![mmm_webapp.png](DcSxCieuonss)

Our web application serves as the primary interface for users to interact with the MMM model. Here’s how it works:
1. **Evaluate Current Marketing Spend**: Use historical spending to evaluate the sales of the current strategy.

2. **Simulate Different Scenarios**: The application allows users to adjust spending levels for each channel to see potential impacts on sales. This feature enables marketing teams to experiment with different budget allocations and strategies.

3. **Optimal Strategy**:  An optimal strategy is proposed inside of predefined constrains.

4. **Optimize budget**: Find The optimal global marketing budget buy targeting a specific ROI


### Conclusion
Our marketing mix modeling project using **Meridian** empowers marketing teams to make data-driven decisions. By simulating various marketing strategies and evaluating their potential impact on sales, teams can optimize their marketing efforts and maximize their return on investment. This approach not only enhances understanding of marketing effectiveness but also fosters a culture of experimentation and continuous improvement within the organization.
