Optimization of advertising expenditures aims to analyze expenditures and develop optimization strategies to use the advertising budget in the most efficient way. This analysis is important to reduce advertising costs and increase return on investment (ROI).
Dataset Description
The dataset we created for this project includes costs of advertising campaigns, revenues generated, and other metrics:
CampaignID: Unique ID of each campaign
AdID: Unique ID of each ad
AdStartDate: The date the ad starts
AdEndDate: The date the ad ends
AdBudget: Budget allocated for advertising
Impressions: How many times the ad was viewed
Clicks: How many times the ad was clicked
Conversions: Number of conversions from the ad
Revenue: Income from advertising
Cost: Cost of advertising
Project Steps
Data Loading and First Look: We will load the dataset and get an overview. We will examine the structure of the data and detect missing or incorrect data.
Cleaning of Missing and Erroneous Data: We will fill in the missing values and correct the incorrect data.
Calculation of Key Metrics: We will calculate key metrics such as ROI, CTR and conversion rate.
Data Analysis and Visualization: We will visualize the results by analyzing the calculated metrics.
Developing Optimization Strategies: Based on the findings, we will develop strategies to optimize advertising spend.
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