September 25, 2023
Needham, Massachusetts-based modeling and data analytics provider in4mation Insights (i4i) has launched Optitry, an always-on SaaS optimization tool that gives clients access to "marketing mix model data" for dynamic scenario planning. marketing life
Founded nearly fifteen years ago, the company provides marketing mix modeling (MMM) solutions to large and medium-sized advertisers using hierarchical analysis. With Optitry, these customers can access their model data through a web interface, run their own scenario plans and comparisons, and quickly adjust marketing spend as other variables change. The approach, called i4iFASTMIX, was introduced 18 months ago and promises media planning measures at a lower cost and "much faster" than conventional analytics solutions.
According to i4i, Optitry has an intuitive interface that is accessible even to non-technical users and offers three scenarios:
- Simulation: How much revenue will changing my advertising spend generate?
- Optimisation: How can I maximize profits given my media budget? AND
- Growth: What is the optimal marketing mix if we want to achieve a certain growth goal?
i4i customers introduced initial versions of the tool earlier this year, and the company says it's available now and plans to be out-of-source by mid-to-late 2024.
"Marketing mix modeling is experiencing a renaissance and is becoming the gold standard for marketing and media measurement," says partner and co-founder Mark Garratt. But even the best solutions of MMM and ours seem static and backward. We recognized the critical need for dynamic tools to help our clients and their marketing partners model, optimize and even track their growth goals to drive better business results. That's why we developed Optitry as a SaaS-based tool to improve end-to-end measurement and attribution of ad spend.
Website: in4ins.com.
