An Upgraded Marketing Mix Modeling in Python

In my last article, I introduced you to the world of marketing mix modeling. If you have not read it so far, please do before you proceed. There, we have a created a linear regression model that is able to predict sales based on raw advertising spends in several advertising channels, such as TV, radio, web banners. For me as a machine learning practitioner, such a model is nice already on its own. Even better, it also makes business people happy because the model lets us calculate ROIs, allowing us to judge how well each channel performed.