Marketing Media Mix Models with Python & PyMC: a Case Study [PyCon DE & PyData Berlin 2024]

🔊 Recorded at PyCon DE & PyData Berlin 2024, 24.04.2024
2024.pycon.de/...
🎓 Watch how Python and PyMC were used to build a Bayesian Marketing Media Mix model for a leading Italian tour operator, offering valuable insights and a practical roadmap for your business's success.
Speakers:
Emanuele Fabbiani
Description:
In the talk titled "Marketing Media Mix Models with Python & PyMC: a Case Study," delivered by Emanuele Fabbiani, Head of AI at xtream, attendees were introduced to a cutting-edge application of Python and PyMC in marketing analytics. Fabbiani highlighted the challenges faced in understanding marketing ROI in today's digital landscape with evolving privacy norms. The case study focused on how a Bayesian Marketing Media Mix model was developed for WeRoad, the fastest-growing Italian tour operator.
The utilization of a Bayesian model allowed for the incorporation of prior knowledge, enabling the system to generate robust insights by updating with new data. Fabbiani delved into the complexities of assessing the effectiveness of marketing channels such as online ads, social media, and promotions. Attendees gained insight into the design of the Bayesian model, including the incorporation of expert knowledge and modeling delays and saturation.
The technical implementation, powered by Python, PyMC, and Streamlit, was discussed, showcasing an effective, efficient, and user-friendly system. Participants walked away with a foundational understanding of the Bayesian approach, real-life examples of its impact on WeRoad's marketing strategy, and a blueprint for integrating predictive models into their own business strategies. This talk provided a practical roadmap for developing similar models to optimize marketing ROI in a privacy-centric digital environment.
⭐️ About PyCon DE & PyData Berlin:
The PyCon DE & PyData conference unite the Python, AI, and data science communities, offering a unique platform for collaboration and innovation. The PyCon DE & PyData Berlin 2024 conference, hosted in partnership with the local Berlin PyData chapter, provided an exceptional experience, fostering deeper connections within the Python community while showcasing advancements in AI and data science. Attendees enjoyed a diverse and engaging program, solidifying the event as a highlight for Python and AI enthusiasts nationwide.
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Links:
• Conference website: pycon.de
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The conference is organized by
• Python Softwareverband e.V.: pysv.org
• NumFOCUS Inc.: numfocus.org
• Pioneers Hub gemeinnützige GmbH: pioneershub.org
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#Python #PyConDE #PyData #OpenSource #AI #DataScience #MachineLearning #SoftwareDevelopment #LLMs #Community
Acknowledgements:
Special thanks to all the volunteers and sponsors who made this event possible.
About:
Python Softwareverband e.V.:
PySV is a non-profit that promotes the use and development of Python in Germany through events, education, and advocacy, fostering an open Python community.
NumFOCUS Inc.
supports open-source scientific computing by providing financial and logistical support to key projects like NumPy and Jupyter, promoting sustainable development and collaboration.
Pioneers Hub gemeinnützige GmbH:
is a non-profit fostering innovation in AI and tech by connecting experts and promoting knowledge exchange through events and collaborative initiatives.
www.pydata.org
PyData is an educational program of NumFOCUS, a 501(c)3 non-profit organization in the United States. PyData provides a forum for the international community of users and developers of data analysis tools to share ideas and learn from each other. The global PyData network promotes discussion of best practices, new approaches, and emerging technologies for data management, processing, analytics, and visualization. PyData communities approach data science using many languages, including (but not limited to) Python, Julia, and R.