How do you validate and test your marketing channel mix models and simulations?

1 Check data quality

The first step is to check the quality of your data sources and inputs. You need to make sure that your data is accurate, consistent, complete, and relevant for your modeling and simulation objectives. You also need to avoid any data errors, outliers, or biases that could affect your results. You can use various data quality tools and techniques, such as data cleaning, validation, profiling, and auditing, to assess and improve your data quality.

3 Compare model outputs

The third step is to compare the outputs and predictions of your model with the actual outcomes and performance of your marketing channel mix. You need to measure the accuracy and precision of your model and identify any gaps or discrepancies between your model and reality. You also need to analyze the sources and reasons for any errors or deviations and adjust your model accordingly. You can use various model comparison tools and techniques, such as error analysis, benchmarking, and feedback loops, to assess and improve your model outputs.

4 Validate simulation results

The fourth step is to validate the results and recommendations of your simulation. You need to ensure that your simulation is realistic, reliable, and relevant for your marketing channel mix optimization and decision making. You also need to evaluate the feasibility and impact of your simulation scenarios and actions on your marketing channel mix performance and outcomes. You can use various simulation validation tools and techniques, such as expert judgment, historical data, and pilot testing, to assess and improve your simulation results.

5 Communicate findings and insights

The fifth step is to communicate your findings and insights from your model and simulation to your stakeholders and audiences. You need to present your model and simulation in a clear, concise, and compelling way that highlights the value and benefits of your marketing channel mix optimization. You also need to provide evidence and support for your model and simulation results and recommendations and address any questions or concerns that may arise. You can use various communication tools and techniques, such as dashboards, reports, and visualizations, to convey your findings and insights.

6 Update and refine model and simulation

The sixth step is to update and refine your model and simulation based on your validation and testing results and feedback. You need to keep your model and simulation current, relevant, and accurate for your marketing channel mix optimization and decision making. You also need to incorporate any new data, information, or insights that may affect your model and simulation results and recommendations. You can use various update and refine tools and techniques, such as data integration, model calibration, and simulation iteration, to improve your model and simulation.