The need to use media priors - Why is it required?

[AruunnAnanda]

Hello there,

The intention is to understand why we need media priors and how does it help the model? Can someone please help me understand it?

After reading some online documentation I understood we only need priors for unknown parameters like slope and intercept because that is what we're trying to solve.

Now, it confuses me a bit when I think of having priors for media budgets.

Thanks!

[michevan]

So the (scaled) media budgets are used as the priors for the media channel coefficients, we don't have priors for the media budgets.

The papers in the references section on the main Github page (particularly this one) might help this make more sense!

[AruunnAnanda]

Hi @michevan,

Thanks for sharing the documentation link.

Just for clarification - I was referring to the highlighted argument in the screenshot. Even you're talking about the same, right?

[michevan]

yep!

[AruunnAnanda]

Thanks!