Ask The Experts
Statistics and data modeling are not words I use. How can I understand what you will do for me?
We realize the fact that most people don’t live and breathe statistics. Even so, most statisticians have a hard time communicating in plain English so you can understand. Through years of client interaction, AMP has focused on creating reports so that a CEO, a manager and a front-line account executive can comprehend our findings. Our goal is that you understand your greatest potential and that you can accurately articulate what this means for your company.
We already work with a company that builds models for us. What is MicroModeling™ and why do you think this might be a better fit for us?
Many companies do in fact build models. Some of them used canned software or follow traditional statistics which definitely has some benefit. MicroModeling™ is our proprietary process which builds a custom model for each location, market or segment analyzed. Most modelers are building a single model or maybe even regional models. These rarely take into account all of the differences between locations. We also generate separate reports for every location or market so you can study why a group is doing great or why it is performing poorly from a business perspective.
We don’t have brick and mortar locations. Does this mean that MicroModeling™ would not be a good fit?
MicroModeling™ is a great tool for brick and mortar locations whether that is financial, retail or other location-based businesses where distance, neighborhoods and traffic patterns are relevant. However, MicroModeling™ can also be used on many different geographic layers to analyze best markets and differences for each of these. So whether you are looking at towns, markets, regions or other divisions, MicroModeling™ can easily accommodate your needs.
We have 417 locations so looking at a report for each location is not feasible. How else can we use MicroModeling™ from a macro perspective?
MicroModeling™ reports start with individual locations. You may only use this level of reporting to understand operational problems or major successes. Beyond that, reports are aggregated into higher levels or groupings you have defined at your company. This can give you a much stronger perspective at various levels how your locations are performing and how the marketing may differ as a whole.
I am trying to understand where the data for my marketing effort will come from. You have completed MicroModeling™ for us, so then what?
You have several options but there is a ‘Best’ option to consider. You can take some of the findings from the analysis and go to your preferred data provider and try to match up some key discovery points. A better option would be to let us supply you with modeled data. Again, this will consider hundreds of pieces of information instead of the typical 3-5 data points you could go to a data provider for. The modeled data also is unique to every location so every bit of the learning from the MicroModeling™ process will be considered as we help you select the households with the greatest potential for your marketing efforts.
What do we need to get started for you to build a MicroModel for our company?
You will need to supply us with customer name and address information so we can match up information from the AMP National Consumer File. If you have brick and mortar locations, we will need the physical addresses for these as well to help define marketing footprints. If you have more of a franchise footprint or other geographical subdivisions, we can use these tables to build and complete the MicroModeling™ process.