Simply put, this Cincinnati, Ohio based Ignite Technologies offers a product ThinkVine that provides marketing mix and unified marketing attribution and optimization via algorithmically integrated Marketing Mix Modelling (MMM) and Multitouch Attribution (MTA). The company draws on its audience-based past. As such, this company, with its small staff of 30, led by Davin Cushman as Chief Executive Officer (CEO) uses an ensemble of algorithms to support impact assessment and optimization. In addition, this company delivers results and recommendations to engage audience segments and to drive progress as well as revenue.
ThinkVine’s measurement tools offer support in terms of constraint-based planning. Plus it permitting its clients which are mostly from the financial and retail sectors, and include names like Deckers, GoDaddy, and U.S. Bank, to input budgets or sale targets and create recommended marketing plans. And this company that was started in 2008, is 100% dependent on its revenue from its software.
In terms of methodology, ThinkVine applies a tiered two-stage method that uses data on segments, individuals, marketing goals and media consumption. The methodology that the company draws from are of multiple methods. These methods are based on the models of Hidden Markov Chains, and Logistic Regression. The Hidden Markov Chain is a model for randomly changing systems that assumes the Markov property — the future state depends only on the current state not on the events before it. In a Hidden Markov Chains model the state changes are hidden (can’t be observed) but correlate with a variable that can be observed. Logistic regression model, although a regression model, the concept of logistic regression is used as a classifier. It maps the dependent variable onto an interval between 0 and 1 and so can be translated into a probability that the variable is in a particular class.
The edge that ThinkVine brings is that its solution integrates a diversity of data from non-addressable and addressable sources. Such as, this software company plays the protagonist of a natural arbiter which has no stake in media.
The company completes its role of protagonist with the aid of its trademark technology. This is that the ThinkVine uses a converged platform that features APIs which can attach to a variety of execution points. More so, the SmartMix technology that is part of the platform generates a suggested media plan that is based on diverse client-provided constraints.
The solution provided by ThinkVine should be considered if you are looking for a flexible MMM or unified solution that can apply a range of analytical methods within an integrated workflow. Alternatively, if you need a tool that provides marketing scenario planning based on constraints, such as budgets, sales goals or ROI requirements.
With Ignite’s ThinkVine scenario-driven software, users can easily test high-level changes to strategy and detailed changes to tactics. Designed to enable rapid responses to market changes—including external factors—the web-based software also provides anywhere, anytime access to authorized stakeholders. The software provides an agile way to manage and understand complex cross-channel relationships and multiple audiences.