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Data Analytics for Marketing

You're reading from   Data Analytics for Marketing A practical guide to analyzing marketing data using Python

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Product type Paperback
Published in May 2024
Publisher Packt
ISBN-13 9781803241609
Length 452 pages
Edition 1st Edition
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Author (1):
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Guilherme Diaz-Bérrio Guilherme Diaz-Bérrio
Author Profile Icon Guilherme Diaz-Bérrio
Guilherme Diaz-Bérrio
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Table of Contents (20) Chapters Close

Preface 1. Part 1: Fundamentals of Analytics
2. Chapter 1: What is Marketing Analytics? FREE CHAPTER 3. Chapter 2: Extracting and Exploring Data with Singer and pandas 4. Chapter 3: Design Principles and Presenting Results with Streamlit 5. Chapter 4: Econometrics and Causal Inference with Statsmodels and PyMC 6. Part 2: Planning Ahead
7. Chapter 5: Forecasting with Prophet, ARIMA, and Other Models Using StatsForecast 8. Chapter 6: Anomaly Detection with StatsForecast and PyMC 9. Part 3: Who and What to Target
10. Chapter 7: Customer Insights – Segmentation and RFM 11. Chapter 8: Customer Lifetime Value with PyMC Marketing 12. Chapter 9: Customer Survey Analysis 13. Chapter 10: Conjoint Analysis with pandas and Statsmodels 14. Part 4: Measuring Effectiveness
15. Chapter 11: Multi-Touch Digital Attribution 16. Chapter 12: Media Mix Modeling with PyMC Marketing 17. Chapter 13: Running Experiments with PyMC 18. Index 19. Other Books You May Enjoy

Delving deeper into some pitfalls

Theoretically, a single control can be shared across multiple treatments. The theory also says that a larger control can have benefits in terms of reducing the variance.

Assuming equal variances, the sample size of a two-sample t-test is given by  1 _  1 _ N T +  1 _ N C, which translates into the harmonic mean of the sample sizes. When one has one control with x users, k equally sized treatments with size 1 x _ k , the optimal control size is given by minimizing the sum  k _ 1 x + 1 _ x .

The solution is x =  1 _  _ k  + 1. For example, if you have three treatments, the optimal control size is not 25% but 36.6%, and the optimal treatment size is 21.1% each. With k = 9, the control should get 25%, and each variant only 8.3%.

However, one needs to be careful, in practice, of the following...

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