Before we get started, it needs to be clear that this enhancement to Google Analytics is only on the Premium version. You know, the one that runs over $150k / year so unless you are an Enterprise player this is only something to be jealous of and pray it will trickle down someday to the commoners who use the free version.
Google Analytics Premium has been around since 2011. If you need a refresher take a look at this video:
I recommend you read the post on the Google Analytics blog to get the details regarding attribution in this version. I personally jumped to the end because I’m a sucker for a good ending.
How it works:
The Data-Driven Attribution model is enabled through comparing conversion path structures and the associated likelihood of conversion given a certain order of events. The difference in path structure, and the associated difference in conversion probability, are the foundation for the algorithm which computes the channel weights. The more impact the presence of a certain marketing channel has on the conversion probability, the higher the weight of this channel in the attribution model. The underlying probability model has been shown to predict conversion significantly better than a last-click methodology. Data-Driven Attribution seeks to best represent the actual behavior of customers in the real world, but is an estimate that should be validated as much as possible using controlled experimentation.
Did you get that?
Hey when you pay the annual price tag you do for Google Analytics Premium you really should get something special, don’t you think?