Markov Model (attribution)

A Markov Model for attribution is a way to understand how different marketing channels (like email, social media, or ads) contribute to a customer’s decision to buy. It treats each step a customer takes as a change from one state to another, with certain probabilities. By analyzing these transitions, the model estimates the value of each channel, including influence from previously contacted channels. This helps marketers see which channels most effectively guide customers toward conversions, assigning credit dynamically based on the path taken, rather than just last touch or first interaction.