I guess I just can’t say it enough –
So, I may or may not have talked this topic to death (actually starting with one of my original posts over a year ago). But it astounds me – the more super smart people I meet – the more this word comes up.
Most recently a crazy smart data scientist I work with had this to say about attribution models:
“Most multi-channel attribution models (a.ka. Shapley values or DDA) are full of heuristics—decisions made by (expert) people. These attribution models are based on algorithms that people invented to reflect reality, but reality is much more complex.
Over time, you accumulate a trove of source types and chains. That makes channel/Campaign performance difficult to compare.”
I guess as much as I love the concept of heuristics as it relates to analytics, in today’s world, experts looking to the past to the predict the future is no match for machine learning and artificial intelligence actually doing this.