Information Technology, consulting and outsourcing business firm Wipro Technologies has launched its Marketing Mix Modeling (MMM) technology offering on Amazon Cloud to determine the marketing ROI and impact on sales by statistically analysing activities like price change, advertising, media delivery and promotions.
The Marketing Mix Modeling technology offering is built upon a Microsoft platform where the front end is developed on .Net based architecture and MS-SQL runs the database.
With Wipro Marketing Mix Modeling offering, brand managers and media planners of Consumer Packaged Goods (CPG) companies are provided with actionable intelligence and the offering includes ‘any-time’, ‘any-where’ real time recommendations to brands and products which enable brand managers and media planners to determine spend on right channels.
In addition, the offering measures KPI’s and evaluates the brand’s performance on a continual basis and it features built in analysis and Dynamic SaaS dashboards.
The MMM marketing dashboard is a customisable module where metrics and KPIs of client’s choice are defined and reports are designed as per clients business needs and the Wipro analytics and domain expert presents comprehensive insights based on MMM model results and provide client brand team with the inputs on effective vehicles, efficient ROIs as well as opportunity areas where further marketing investment should be made.
Wipro Technologies CPG Vertical vice-president and global head Somjit Amrit said Wipro’s Cloud enabled Market Mix Model offering enables Consumer Packaged Goods companies to assess effectiveness of multiple media channels, helps optimise marketing spend, and help evaluate brand performance based on strong data analysis.
"This tool will enable a real time management for brand marketing managers for tracking marketing performance and the ROI of the marketing spend, given the ease of access and usage. The tool has been already implemented across half a dozen of global CPG brands and the benefits have been realized," said Amrit.
