Combining Multiple Statistical Methods for Measuring Ad Effectiveness (303237)

Keywords: R, inference, survival analysis, small data, bootstrap, online ads

Data mining and business analytics involve unconventional and complex data that do not lend to one or two focused statistical methods. Taking a more broad approach as opposed to a few focused methods is better suited for the exploratory nature of mining unconventional data. Here, we analyze a single set of online advertising data by implementing multiple statistical methods such as survival analysis, bootstrapping, principal component analysis, logistic regression, and clustering. Then, we apply the same methods while withholding specific data to examine the impact on the results. By doing so, we better understood which statistical methods provide practical support for our clients and internal operations.