i4i Launches Marketing Mix Optimization Tool

In Needham, Massachusetts, data modeling and analytics provider in4mation insights (i4i) has launched Optimetry, described as an 'always-on' SaaS optimization tool giving clients access to 'marketing mix model data for dynamic scenario planning over the life of marketing campaigns'.

The firm was formed around fifteen years ago and provides marketing mix modeling (MMM) solutions to large and medium sized advertisers using hierarchical Bayesian analytics. Optimetry will allow these clients to access their model data via a web interface, to conduct their own scenario planning and comparison, and to adjust marketing spend on the fly as other variables change. Eighteen months ago it launched an approach called i4iFASTMIX, promising metrics for media planning at a lower cost and 'much faster' than typical analytics solutions.

i4i says Optimetry features an intuitive interface accessible to non-technical users, and offers three scenarios:

• Simulate: What return will a change in my media spend deliver?
• Optimize: How can I maximize profit, given my media budget? and
• Grow: What is the optimal marketing mix if we have a specific growth target to hit?

The tool provides contextual metrics for overall campaign ROI as well as comparisons of the relative performance of each channel.

i4i's clients have been piloting early versions of the tool this year, and the firm says it is available now and aims to be source data agnostic by mid-to-late 2024.

Partner and co-founder Mark Garratt comments: 'Marketing Mix Modeling is enjoying a renaissance as the gold standard for marketing and media measurement. But even the best MMM solutions, and we consider ours to be amongst them, tend to be static and backward looking. We recognized an urgent need for dynamic tools that could enable our clients and their marketing stakeholders to be in the driver seat, when it comes to simulating, optimizing, and even working backward from a growth target to achieve better business results. That is why we developed Optimetry as a SaaS based tool to facilitate better ongoing measurement and allocation of media spend'.

Web site: www.in4ins.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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