228: The Machine Learning Reality Check: When AI Makes Sense for Marketing Attribution with Lew Dawson of Momentum Consulting

This week on The Data Stack Show, Eric and John welcome back Lewis Dawson from Momentum Consulting for the third part of this conversation on data attribution. In this episode, the group talks about the intricacies of machine learning (ML) and its business applications, particularly focusing on customer lifetime value (CLV) prediction. They discuss the challenges of implementing ML models, emphasizing the necessity of having the right data and team. The conversation highlights the importance of simplicity in modeling and understanding the limitations of data-driven approaches. They also explore the concept of diminishing returns in marketing channels and the potential of AI in optimizing advertising strategies, while acknowledging the complexities involved.