From the course: Marketing Attribution and Mix Modeling

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Forecasting future scenarios for planning

Forecasting future scenarios for planning

From the course: Marketing Attribution and Mix Modeling

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Forecasting future scenarios for planning

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- [Instructor] You built a marketing mixed model you're proud of, so now how do you use it to make decisions? Forecasting future performance with your model coefficients can be a powerful tool for choosing the right marketing strategy, and finance will love you for it. This is a marketing mixed model for an ice cream store, and they want to forecast what they should spend in Q1 to hit their goals. So if you're going to do a forecast, and you have your marketing mix model, you have your coefficients, which are just over here, they're provided by the LINEST function, then we just need to plot out what are the future values that we're assuming in order to forecast our model. So if we look at the weeks, we end on week 52, which is the end of the year, and now we're just going to forecast out for next year. So just going to say week next year. And then going to have the forecast, which will be forecasted revenue. Make…

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