Michigan Ross Professor Earns National Honor for Research Impacting Online Marketing
Assistant Professor of Marketing Eric Schwartz, with two colleagues, has won the prestigious John D.C. Little Award from the Institute For Operations Research and the Management Sciences.
The annual award goes to the best marketing paper published in Marketing Science, Management Science, or another INFORMS journal in 2017. Schwartz' winning paper, selected among 750+ others, is titled “Customer Acquisition via Display Advertising Using Multi-Armed Bandit Experiments,” written by Schwartz with co-authors Eric T. Bradlow and Peter S. Fader of The Wharton School at the University of Pennsylvania.
The research described in the paper takes a new approach to improving the effectiveness of online advertising. It combines machine learning with a statistical model of customer behavior that enables companies to continually test ads and allocate resources accordingly, improving earning while they are learning. A real-world experiment the researchers ran with a company showed a marked improvement using the new method over traditional testing.
The award was presented to Schwartz and his colleagues at the annual INFORMS Marketing Science Conference, held over the weekend at Temple University.