There's been a lot of excitement about Google's recent launch of Meridian - their open-source MMM framework. But does it live up to the hype?
Jim and Simon explore what sets Meridian apart from other tools like Meta's Robyn and PyMC Marketing. They also discuss the evolution and impact of open-source MMM, the role of new data streams such as Google Query Volume and Reach & Frequency data, and how the availability of Meridian might shift industry standards. Listen in to understand the features, benefits, and the potential gaps Meridian fills within the marketing measurement ecosystem.
Links from the show:
00:00 Introduction and Host Switch-Up
00:37 Discussing Google's Meridian Announcement
02:00 Understanding Meridian's Name and Popularity
03:48 Google's Open Source MMM Framework
05:53 Comparing Lightweight MMM and Robyn
12:02 The Role of AI and Data in MMM
21:52 Debunking Meridian's Myths
22:13 Understanding Meridian's Role in Experimentation
22:54 The Importance of Competition in Open Source MMM
23:28 Unique Features of Meridian Compared to PyMC and Robin
23:49 Choosing the Right MMM Tool: Robyn, Meridian, or PyMC?
24:22 Explaining Time Varying Coefficients
24:30 Entry-Level Recommendations for MMM Tools
25:00 Static vs. Time Varying Baselines in MMM
28:44 Evaluating the Accessibility of MMM Tools
35:20 The Need for Robust Validation in MMM
37:38 Challenges in Incrementality Testing
39:07 Bridging the Gap Between MMM and Media Managers
43:17 Future of MMM: In-Platform Incrementality Testing
43:46 Final Thoughts and Joining the MMM Hub
