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Forbes
4 days ago
- Business
- Forbes
Digital Marketing ROI: From Clicks To Causality
Rahul Wankhede, Director Data Science and Marketing Analytics, Humana. getty Digital marketing is an indispensable engine for growth. Year over year, big brands allocate a significant portion of their annual marketing budget toward digital channels and—with an ever-increasing digitally savvy and available audience—effective strategies can promise precision, personalization and reach. While it's easier to spend in digital channels than traditional ones, proving return on investment (ROI) at both the top and bottom of the funnel is complicated. That complexity is further amplified when you think of the impact on brand awareness or recall, which may not always yield immediate conversions. The real question is incrementality: Did the ad cause the action, or would you expect it to occur organically? To understand the trade-offs, think of measurement approaches as a funnel, ranging from simplest at the top to more complex—and possibly more accurate—methods at the bottom. With each layer, you can expect more rigor but also more stringent data requirements, sophisticated models, investment, deeper analytical expertise and patience. Here are a few different approaches for measuring the ROI of digital marketing efforts: At the top of that funnel is last-touch attribution, a model that assigns full credit for a conversion to the last interaction before the action. Since it's easy to implement and interpret, last-touch remains a popular method. However, the methodology ignores all other touchpoints that may have influenced the customer along their path to conversion. The method doesn't include the causal impact of interactions like first touch, linear or time decay. That's where multi-touch attribution (MTA) comes in. MTA attempts to use user-level data and models to assign fractional or partial credit to each touchpoint. The approach attempts to account for the full customer journey, offering a more granular view of performance. This method typically includes large volumes of granular data such as cookies, device IDs and timestamps across multiple channels. The model is also becoming more difficult to manage, with the world moving toward more stringent privacy laws and cookie deprecation. Ultimately, even with the data stack available, MTA is prone to bias. Some consumers who view your ads are likely to inherently be more engaged or loyal, while some may just be online more, potentially leading to overstated impact. Without proper controls, MTA could mistake correlation for causation. To supplement attribution, marketing mix models (MMMs) are a popular technique that leverages aggregated data—typically at the geographic and weekly level—to estimate the impact of marketing on sales. MMM can capture both online and offline media impact and is valuable when you add saturation curves to assist with long-term planning and budget optimization. While MMM does not require user-level data, which makes it resilient to privacy changes, results can skew heavily based on model specifications, assumptions and data quality. It also tends to smooth over short-term fluctuations and isn't necessarily useful for more tactical-level optimizations. Randomized control trials (RCTs) remain the gold standard in measuring the incremental impact of marketing. They work by comparing outcomes between a treatment group (those exposed to the marketing) and a control group (those not exposed), isolating the causal effect of the campaign. There are several ways to do this: • Randomization can occur at the market, geographic level or individual user level, where users are assigned to either a treatment or control group. • You can use synthetic controls after a campaign, which constructs a comparison group based on modeled data when a true control group wasn't established in advance. Running and implementing RCTs at scale, where reach remains such a crucial factor, is a challenge. You also run into issues with exposure bias; for example, being in the treatment group doesn't necessarily mean they saw the ad. Other factors, like viewability and fraud, can skew results. Conversely, control users might inadvertently be exposed to the ad due to retargeting, low match rates or media leakage. These issues can compromise the validity of the test. One solution is the implementation of placebo or ghost ads, which appear as real ads to the user but promote unrelated content, serving as a true control. With ghost ads, the control group is selected at the time of the bidding process, solving the question of ad exposure. This method requires a robust internal data infrastructure—including impression logs, user IDs, clean conversion data and analytical expertise. Many organizations don't have the engineering resources to deploy these tests at scale. Still, despite these challenges, well-executed experiments can validate and supplement predictive models, inform bidding strategies and answer key questions about channel effectiveness. When paired with MMM or MTA, RCTs act as a calibration layer, bringing rigor to existing methods. While much of marketing measurement focuses on conversions, upper funnel metrics like brand awareness, consideration and recall are equally critical. Though harder to measure, these indicators play a significant role in driving long-term growth. Surveys remain a primary tool to measure brand awareness, comparing consumer perceptions before and after ad exposure. Modern brand lift studies use randomized control designs to capture these shifts more accurately, while longitudinal brand equity trackers monitor changes over time to link campaigns with brand health. These methods offer insights that performance metrics alone can't answer, essentially the emotional connection with an audience the brand is trying to win. They also come with challenges: response bias, sampling variability and difficulty with linking surveys to actual exposure. Each approach—attribution, experimentation, modeling, surveys—has trade-offs. The key is integrating them into a unified strategy aligned with business goals, campaign needs and data maturity. Success lies in using the right mix at the right time, validating results without unnecessary complexity and building on insights over time. While machine learning will help automate and surface patterns, human expertise remains essential. The complexity is real—but so is the opportunity. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
India Today
24-05-2025
- Business
- India Today
Top CBSE students can now get full scholarship to Hong Kong University. Know how
The University of Hong Kong is offering full-ride scholarships to top-performing CBSE students for various undergraduate programmes, focusing on innovation, technology, and interdisciplinary studies. Know the eligibility and application details here. India Today Education Desk HKU offers full scholarships to top CBSE students for select undergraduate programmes Courses include fields like Artificial Intelligence, Business Analytics, and Biomedical Engineering Applicants should refer to HKU's official website for detailed eligibility and application procedures The University of Hong Kong (HKU), ranked 17th globally in the QS World University Rankings 2025, has announced full-ride scholarships for top-performing students from the Central Board of Secondary Education (CBSE). This initiative aims to support outstanding CBSE students seeking undergraduate admission at HKU, particularly in fields aligned with innovation, technology, and interdisciplinary studies. The university's decision comes in light of CBSE's emphasis on competency-based education under the New Education Policy (NEP) 2020, which has enhanced student performance across disciplines, including STEM and the humanities. COURSES COVERED UNDER THE SCHOLARSHIP HKU is offering a range of cutting-edge courses eligible under this scholarship scheme, such as: BA in Humanities and Digital Technologies (HDT) BBA (Business Analytics) BSc in Marketing Analytics and Technology (MAT) BSc in Quantitative Finance (QFin) BA in Global Creative Industries (GCIN) BBA BEng - Global Engineering and Business Programme (GEBP) BEng Elite Programme BEng X+ MScEng - Master of Science in Engineering in Artificial Intelligence in Engineering (AIE) BSocSc (Major in Computational Social Science) BASc in Applied Artificial Intelligence (AppliedAI) BASc in Financial Technology (FinTech) BSc in Actuarial Science (ActuarSc) Bachelor of Statistics (BStat): (1) Decision Analytics, (2) Risk Management, and (3) Statistics BEng in Computer Science (CompSc) BEng in Artificial Intelligence and Data Science (AI&DataSc) BSc in Innovation and Technology BEng in Biomedical Engineering (BME) In addition to providing a strong foundation in core academic areas, the university offers access to over 420 global exchange partnerships in 49 countries and regions. Students will also benefit from dual degree and collaborative programmes with prestigious institutions including the University of Cambridge, University of British Columbia, and Sciences Po. HOW TO APPLY CBSE students aiming for these scholarships should apply through HKU's International/Non-JUPAS Admissions Scheme. Applicants need to submit their academic records, a personal statement, and any other required documents. It's advisable to check the official HKU admissions website for detailed application procedures and deadlines ELIGIBILITY CRITERIA While specific eligibility criteria for CBSE students haven't been detailed, HKU generally considers academic excellence in national examinations. For Indian board exams, a minimum percentage of around 90% is often expected for competitive programmes. Applicants should also meet English language requirements and any programme-specific prerequisites. For detailed information on eligibility, application process, and course offerings, students are advised to visit the official University of Hong Kong website: The University of Hong Kong (HKU), ranked 17th globally in the QS World University Rankings 2025, has announced full-ride scholarships for top-performing students from the Central Board of Secondary Education (CBSE). This initiative aims to support outstanding CBSE students seeking undergraduate admission at HKU, particularly in fields aligned with innovation, technology, and interdisciplinary studies. The university's decision comes in light of CBSE's emphasis on competency-based education under the New Education Policy (NEP) 2020, which has enhanced student performance across disciplines, including STEM and the humanities. COURSES COVERED UNDER THE SCHOLARSHIP HKU is offering a range of cutting-edge courses eligible under this scholarship scheme, such as: BA in Humanities and Digital Technologies (HDT) BBA (Business Analytics) BSc in Marketing Analytics and Technology (MAT) BSc in Quantitative Finance (QFin) BA in Global Creative Industries (GCIN) BBA BEng - Global Engineering and Business Programme (GEBP) BEng Elite Programme BEng X+ MScEng - Master of Science in Engineering in Artificial Intelligence in Engineering (AIE) BSocSc (Major in Computational Social Science) BASc in Applied Artificial Intelligence (AppliedAI) BASc in Financial Technology (FinTech) BSc in Actuarial Science (ActuarSc) Bachelor of Statistics (BStat): (1) Decision Analytics, (2) Risk Management, and (3) Statistics BEng in Computer Science (CompSc) BEng in Artificial Intelligence and Data Science (AI&DataSc) BSc in Innovation and Technology BEng in Biomedical Engineering (BME) In addition to providing a strong foundation in core academic areas, the university offers access to over 420 global exchange partnerships in 49 countries and regions. Students will also benefit from dual degree and collaborative programmes with prestigious institutions including the University of Cambridge, University of British Columbia, and Sciences Po. HOW TO APPLY CBSE students aiming for these scholarships should apply through HKU's International/Non-JUPAS Admissions Scheme. Applicants need to submit their academic records, a personal statement, and any other required documents. It's advisable to check the official HKU admissions website for detailed application procedures and deadlines ELIGIBILITY CRITERIA While specific eligibility criteria for CBSE students haven't been detailed, HKU generally considers academic excellence in national examinations. For Indian board exams, a minimum percentage of around 90% is often expected for competitive programmes. Applicants should also meet English language requirements and any programme-specific prerequisites. For detailed information on eligibility, application process, and course offerings, students are advised to visit the official University of Hong Kong website: Join our WhatsApp Channel
Associated Press
13-02-2025
- Business
- Associated Press
First Analytics Welcomes Rob Stevens and Todd Gustafson as Managing Partners
First Analytics, a leader in applying advanced analytic solutions and strategy consulting to companies in support of their application of AI in supply chain, operations, pricing, marketing, and safety initiatives, is pleased to announce the addition of Rob Stevens and Todd Gustafson as Managing Partners, deepening First Analytics commitment to providing world class analytic service to its broad range of global clientele. Rob Stevens recently served as VP at First Analytics for 14 years, supporting initiatives in advanced analytics consulting in safety, forecasting, supply chain, and generative AI. Prior to First Analytics, Rob worked in leadership roles at SAS, Information Resources (now Circana), Accenture, Ernst & Young, and Marketing Analytics, with a total of over 30 years in the analytic consulting space. Rob has helped clients in the CPG, manufacturing, retail, railroad, automotive, utility and energy, and health and life sciences industries, with clients such as Union Pacific Railroad, Kellogg's, SoCalGas, Toyota, and Fresenius-Kabi. In his new capacity, Rob will continue to support an expanding array of industry verticals with technical and strategic consulting leveraging generative and agentic AI. Todd Gustafson, PhD, joins First Analytics from Ipsos MMA (Marketing Management Analytics), where he led global analytics from 2010-2021 and most recently as Chief Operating Officer. Previously, Todd worked in analytic consulting leadership roles at Accenture, Henry Rak Consulting Partners (now a part of McKinsey), Marketing Analytics, and ACNielsen, partnering with senior leadership at global clients delivering insights to help brands grow. His domain experience spans restaurant, retail, CPG, consumer durables, automotive, fuel, apparel, telco and others, and he has had the privilege of consulting to companies such as Starbucks, Adidas, Walmart, GE, Google, Darden, Wawa, and Mondelez. With over 35 years of experience, Todd brings a wealth of industry vertical expertise to enhance First Analytics breadth. 'We are excited to recognize Rob's contributions to First Analytics with a move to Managing Partner, along with the addition of Todd as Managing Partner to help enable First Analytics in our next stage of growth,' said Mike Thompson, First Analytics CEO and co-founder of the firm. 'Rob and Todd have worked together on and off over the past 20 years, and they bring a lot of synergy that will rapidly enhance First Analytics'leadership in the analytics and AI consulting space,' said Thompson. 'First Analytics is providing critical leadership and software products to its clients as they grapple with a confusing array of rapidly changing AI tools and technologies to better enable business processes,' said Tom Davenport, Partner and co-Founder of First Analytics, and author of the 'AI Advantage.' 'First Analytics is building on a talented bench of top rate analytics, data architecture, and deep industry consultants to continue to lead the market,' said Davenport. About First Analytics First Analytics is a leading global expert in predictive analytics and AI. The company designs and implements predictive and prescriptive analytic, machine learning, and AI solutions for global clientele in rail, trucking, legal, CPG, restaurant, retail, manufacturing, energy and utilities, animal health, fuel, telco, automotive, among others. First Analytics was founded in 2009, and is headquartered in Cary, NC. To learn more, visit Shae Beacham 919-521-5519
