Pecan AI competitors: 3 best budget allocation tools

Pecan AI offers a comprehensive solution to optimize marketing performance using predictive analytics. Their goal is to perfect Marketing Mix Modelling (MMM) with AI.

MMM in a nutshell is an approach to assess marketing performance. It uses statistical models that analyze past channel-level data to guide how much money should be allocated to each.

How Pecan’s solution works for budget allocation:

Pecan AI’s MMM model output includes:

• A breakdown of how past marketing efforts in each channel affected your targets, incorporating the effects of seasonality and any additional data you added.
• A simulation showing how budget optimization can efficiently meet your goals, predicting the outcomes of budget changes.

While at the core of Pecan lies an enhanced MMM technology, whose main goal is efficient budget allocation, it also offers solutions for predicting churn, LTV, lead scoring, and ad platform optimization by sending predicted events as feedback signals.

1. SegmentStream

Similar to Pecan, SegmentStream leverages Machine Learning to help marketers allocate budgets across digital channels.

It aims to replace traditional attribution tools dependent on cookies, which provide inaccurate data due to cross-device, cross-browser, and privacy restrictions like ITP.

How does SegmentStream help with budget allocation?

• SegmentStream offers a cookieless attribution solution, measuring the total revenue contribution of your ad activities, rather than relying solely on single conversions.
• It evaluates top-of-funnel activities with a view-through attribution model that considers ad impressions, not just clicks.
• SegmentStream provides actionable, AI-powered budget reallocation recommendations, specifying how much to reallocate to each campaign and the expected outcomes.

L’Oréal, CarShop, and KitchenAid use SegmentStream for analytics and optimization.

For example, L’Oréal Luxe was able to achieve a 41% ROAS uplift through effective budget reallocation. Read this case study.

2. Nexoya

Nexoya provides AI-driven software for automated cross-channel portfolio management.

How does Nexoya work for budget allocation?

• Nexoya uses an AI algorithm to analyze ongoing campaign performance and adjusts the budget to the most effective channels and campaigns to maximize ROI.
• In addition to automated budget allocation, Nexoya offers AI-driven predictions of future campaign performance and digital marketing dashboards to track KPIs and ad spending.

3. INCRMNTAL

INCRMNTAL offers incrementality measurement without relying on user-level data or experimentation.

INCRMNTAL for budget allocation:

• It tracks any changes customers make to their marketing activities and analyzes how they affect performance metrics.
• INCRMNTAL recently launched a feature providing marketers with actionable insights, displayed on the dashboard within its admin panel. This includes suggestions on which campaigns to stop or re-launch, and which bids should be higher or lower.