Currently the decision to assign budget to communication alternatives requires a solution adjusted to the complexity of the problem. Nowadays organizations have a large quantity of options, public objectives and segments to reach. Segments are more sophisticated in using media, in purchasing decisions and in way to communicate. Communication strategy requires media evaluation of short and medium term to get more effectiveness and efficiency. Our firm has generated a product that support the decision making process not only in media and promotion selection but also in the selection of products, regions, locations, and investments to achieve results according to the predefined goals and under budget and resources constrains.
The fundamental purpose of this product is to reduce the uncertainty and risk associated to portfolio decisions in finance, operations and sales and advertising. For example in marketing in promotion selection, we use prescriptive analytics based on the size of the audience, characteristics of media alternatives and measures of specific campaign characteristics.
We use statistical and optimization models to evaluate the best solution under the historical conditions and company experience in the market. and for instance in marketing some of the analytics process steps are:
In finance there are several aspects in portfolio analysis that require analytics methods for multiple regression, discrete optimization to stochastic optimization.