Bid Models Overview
Bid models are a new way for users to build a more complex and custom bidding strategy. Bid models are built offline as a data table, and then uploaded to Beeswax. The data table defines specific targeting combinations and expressions, and their associated bids or bid modifiers. Once applied to campaigns, they are used to make bidding decisions in real time.
Bid models are a flexible way to create more complex bidding strategies than a bid modifier allows for without the use of a custom bidding agent. More information can be found here. An example use case is to build a bid model based on data from Beeswax logs (wins, conversions, etc). The model could use a combination of bid request fields (city, inventory source, etc.) and determine an associated bid or bid multiplier.
Please see the Bid Models Webinar here.
The general workflow is:
- Create a model using Beeswax logs (wins, conversions, etc) and/or proprietary data. Model features are bid request keys, and the prediction is either a bid or a bid multiplier.
- Upload the bid model to S3. This will include a manifest file and a set of data files
- Create a new Bid Model in buzz
- Attach the bid model to one or more line item (similar to bid modifiers).
- When a bid request matches the line item, Beeswax does a lookup against the Bid Model. If there is a match, that value is used as the bid or multiplier. If there is no match, the default bid is used.
- A new Model Version can be uploaded at any time, and can be tested in parallel to a previous version