Democratizing Marketing Mix Models (MMM) with Open Source and Gen AI

Marketing Mix Models (MMM) can be democratized and made more transparent by using an open-source system instead of proprietary vendor tools. This approach proposes a system design combining Google's open-source Bayesian MMM, Meridian, with a large language model like Mistral 7B. The LLM acts as an insight and interaction layer, translating the complex statistical outputs from Meridian into understandable business recommendations. A practical Python example demonstrates how to run the Meridian model, process its output, and use the LLM to generate insights on channel ROI and budget allocation.