How Marketing Agencies are effectively using ML for their advertising campaigns – Overview
- Predictive analytics is a qualitative technique that uses machine learning and information mining to anticipate and forecast potential future outcomes with the assistance of past and current data.
- Predictive analytics look at both historical and present data to forecast intended benefits. It then utilizes the concept that is made to apply what it has learned.
- Predictive algorithms use one of two things:
- machine learning
- deep learning.
- Based on previous data, which can be about any topic, machine-learning model predictions enable businesses to generate incredibly precise guesses about the most potential results of a question.
- Machine learning (ML) is a helpful technology for predictive analytics systems because it helps quicken up the processing and inspection of data.
- Machine learning permits predictive analytics algorithms to train on even very large data sets and carry out more in-depth analyses on a variety of variables with modest deployment modifications.
Benefits of using ML in Marketing Agencies
- Accelerate revenue growth
- Generate higher ROI on campaigns
- Get more actionable insights from marketing data
- Better advertising decisions through machine learning
- Improve performance
- Drive down costs
How We Used ML in advertising campaigns for Marketing Agencies?
- Created a Machine learning Model to assess the effectiveness of an advertisement campaign.
- We examine various advertisement variables like cost per click, click rate, and cost per result and then provide insightful results on how to reduce the overall cost per click and then enhance an advertisement’s performance.
- Performed statistical analysis based on user demographics
- Compared the advertisement performance in different states.
- Built a regression model that will predict the cost per result of an advertisement campaign
Market Size: AI and ML in Marketing Agencies
Artificial intelligence (AI) in the marketing market was valued at USD 5.00 Billion in 2017 and is likely to reach USD 40.09 Billion by 2025, at a CAGR of 29.79% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2025.