Don't Let Multicollinearity Mess Up Your Marketing Mix Model
One thing you should be aware of when using marketing mix models is something called multicollinearity. This happens when two or more input variables in your model are highly correlated, making it tough to interpret the results. I like to play around with online ads, so I decided to give marketing mix models another try to learn more about them. I don’t actually have anything to sell, but I thought it would be a fun exercise to create an Instagram ad campaign to try and get more followers....