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Practical Machine Learning Cookbook by Atul Tripathi

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Markov chains - the multi-channel attribution model

A customer's journey undergoes a path of different channels before a purchase on an e-commerce website. Multi-channel attribution assigns a value to each step in the journey. The question is how one can identify the value in the actions people take on your website that lead to a conversion. Commonly, businesses use "last click" attribution, which means assigning all the conversion value to the last step in the journey or "first click" attribution. The first step in developing multi-channel attribution analytics is to understand the customer's journey - from awareness through purchase to after-purchase support. The ultimate goal is to develop loyal customers who spend a significant money on purchases, ...

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