Marketing measurement and optimization (MMO) tools gather vast amounts of data about marketing spend, campaigns, consumer engagement and sales and applies statistical analytic techniques to quantify the financial impact of these activities, determine the optimal mix of channels and marketing tactics and forecast the results of alternative marketing investments.
To realize these benefits, Forrester says, "marketers should use this report to understand the value they can expect from a marketing measurement and optimization provider and to select one based on size and functionality."
Forrester takes a deeper dive into different firms' functionality in MMO across five key segments:
- Unified marketing performance measurement
- Marketing mix modeling
- Multitouch attribution
- TV attribution
- Marketing performance monitors
IRI is listed as a vendor that can serve clients in most of these marketing measurement and optimization areas.