How to estimate the prior for paid media?

[KatatoniaSh]

Given a historical dataset, how can we estimate the ROI priors for paid medias? Is there any procedure for that?

[stdp95]

Hey, based on my experience with historical data, ROI priors can’t be estimated directly. I’d recommend working with the business team to understand how each channel is performing and what ROAS they expect. That information can then be used as informed priors, followed by training, testing, and validating the model.