Google AdWords Bidding
Although it is a huge part of your advertising budget, bidding on Google Adwords presents a double bind. Bid too low and you lose advertising opportunities, causing your product and brand awareness to fall and drag sales volume (and profit) down with them. Bid too high and your marketing ROI will dwindle, making your efforts redundant if not actively detrimental.
By using machine learning to build models from past marketing and sales activities to predict the sales volume attributable to each individual AdWord, it’s easy to determine the optimal price to bid to achieve your target ROI while simultaneously avoiding losing the word to a competitor.
Building auction models that can capture complex and changing human behavior is incredibly difficult and time-consuming, but the DataRobot platform can find the most accurate model with just one click.