Model calibration
The process of adjusting a model's parameters using external data, such as incrementality test results.
More Media Mix Modeling terms
Adstock
The lingering effect of advertising spend after a campaign ends.
Baseline leakage
When an MMM incorrectly attributes baseline sales to paid media, inflating channel performance.
Baseline revenue
The revenue a brand would generate without any paid marketing activity.
Cross-channel interaction
The way campaigns on one channel influence performance on others, such as a Meta awareness campaign lifting branded search volume or Amazon conversion rates.
Forecasting
Using model outputs to project future revenue or performance under different spend scenarios.