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Market Spend Optimization through Uplift Modelling
retail-cpg
sql
python
excel
data-wrangling
ml-modelling
data-ingestion
Learning objective
- Understanding data-wrangling
- Understanding ml-modelling
- Understanding data-ingestion
- Understanding Marketing Spend Optimization
Overview
Optimizing marketing spending for targeted promotion of MyDepot chains through Uplift modeling
Story
Casebook
Story:
- The MyDepot is a popular retail chain that has its presence in Pan India having 90+ stores and an online presence.
- They have all types of products ranging from hygiene to home essentials to Fashion.
- They have been category leaders for some time now and have done a lot of marketing campaign data with them.
- The Chief Functional officer of myDepot wishes to reduce the marketing spend after the deep impact of COVID-19 which includes trade, media, and promotions
- Hence, they turned their eye to the Mountain size data that they have been involuntarily collecting for years
- The Insights generated by the team of Data Scientists will be used by Marketing experts to reduce the spend and increase the revenue generated at the same time
Objectives:
- The data is scattered across several databases and data lakes. Understanding the availability of data from these places is the first and prime requirement to start the case
- Understand the need for Marketing, target promotions, and explore the ways to optimize the spend
- Explore the data and identify the relevant data suitable for addressing the problem of marketing spend
- Insights to Marketing Teams on spend Optimization