From the course: Marketing Attribution and Mix Modeling

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Multivariable regression: Building your marketing mix model

Multivariable regression: Building your marketing mix model

From the course: Marketing Attribution and Mix Modeling

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Multivariable regression: Building your marketing mix model

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- [Instructor] Your sales aren't driven by just one factor, like how much you spend on ads. You have to account for multiple variables in order to accurately measure the impact of each channel on sales. The LINEST function in Excel and Google Sheets can handle that job for us. We can see some example data from an ice cream store in front of us, and our task is to build a marketing mix model, which predict sales based on the data we have here. Once we have a model, we can use it to understand what are the key drivers of sales and forecast forward to plan our marketing budgets. So first let's explore the LINEST function. The way this works is if we press equals LINEST we just need to feed it the known data, Y, which is the revenue column for us, and I'm just pressing control shift down or command shift down, if you're on a Mac. And then the known data, X, which can be a list of different columns. And in this case, we're…

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