In the realm of marketing analytics, time to event modeling at the customer level can provide a more granular view of the incremental impact that marketing campaigns have on individuals. Media that is addressable can be mapped to an individual, and even aggregated data can be mapped down to an individual via various techniques (i.e. geo, dma, etc.). To accurately assess the incremental effect of marketing, a primary task during modeling is not only to estimate the magnitude/amplitude of the marketing effect, but also to capture the differing decay rates that each specific one has.
This tutorial will describe the basic techniques of applying time-to-event statistical modeling techniques to marketing analytics problems. Beginning with data preparation, sampling, outlier detection and techniques to control for non-marketing effects, the tutorial will move on to consider various modeling strategies and methods for evaluating model effectiveness. The techniques and processes presented will mimic a typical marketing analytics workflow. We will be using a random sample from a (anonymized) large retail firm.For details, refer to tutorial description.