What is Robyn?
Robyn is an experimental, semi-automated and open-sourced Marketing Mix Modeling (MMM) package from Meta Marketing Science. It uses various machine learning techniques (Ridge regression, multi-objective evolutionary algorithm for hyperparameter optimisation, time-series decomposition for trend & season, gradient-based optimization for budget allocation etc.) to define media channel efficiency and effectivity, explore adstock rates and saturation curves. Robyn is built for granular datasets with many independent variables and therefore especially suitable for digital and direct response advertisers with rich data sources.
Why did we build this?
- We want to help all business grow by transforming marketing practices grounded in data and science
- We want to help all companies access advanced, privacy safe, efficient marketing effectiveness analytics in the context of an evolving digital consumer behaviours and the changing digital marketing ecosystem
- We believe in transparent and customizable models that democratize econometrics and solves for analyst bias and subjectivity