Packaging Up Media Mix Modeling: An Introduction to Robyn's Open-Source Approach

• URL: http://arxiv.org/abs/2403.14674v2
• Date: Tue, 27 Aug 2024 14:09:12 GMT
• Title: Packaging Up Media Mix Modeling: An Introduction to Robyn's Open-Source Approach
• Authors: Julian Runge, Igor Skokan, Gufeng Zhou,
• Abstract summary: Open-source computational package Robyn is designed to facilitate the adoption of m/MMM for digital advertising measurement. This article explores the computational components and design choices that underpin Robyn. As a widely adopted and actively maintained open-source tool, Robyn is continually evolving.
• Score: 0.7373617024876725
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: As privacy-centric changes reshape the digital advertising landscape, deterministic attribution and measurement of advertising-related user behavior is increasingly constrained. In response, there has been a resurgence in the use of traditional probabilistic measurement techniques, such as media and marketing mix modeling (m/MMM), particularly among digital-first advertisers. However, small and midsize businesses often lack the resources to implement advanced proprietary modeling systems, which require specialized expertise and significant team investments. To address this gap, marketing data scientists at Meta have developed the open-source computational package Robyn, designed to facilitate the adoption of m/MMM for digital advertising measurement. This article explores the computational components and design choices that underpin Robyn, emphasizing how it "packages up" m/MMM to promote organizational acceptance and mitigate common biases. As a widely adopted and actively maintained open-source tool, Robyn is continually evolving. Consequently, the solutions described here should not be seen as definitive or conclusive but as an outline of the pathways that the Robyn community has embarked on. This article aims to provide a structured introduction to these evolving practices, encouraging feedback and dialogue to ensure that Robyn's development aligns with the needs of the broader data science community.

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