Google has launched Meridian, an open-source Marketing Mix Model (MMM) designed to address key measurement challenges faced by marketers.

The tool is positioned as an investment to drive better business outcomes from media programs for advertisers. MMMs are statistical analyses that help companies measure the impact of cross-channel marketing on key outcomes like sales.

According to a study with Kantar, 60% of US advertisers are currently using MMMs, and 58% of those not using these models are considering doing so in the future. Meridian is built to enable privacy-durable, advanced measurement while meeting marketers where they are. The focus of Meridian is on innovation, transparency, actionability, and education.

"That's why we're increasing our investment in the future of MMMs. Today, we're announcing Meridian, an open source MMM that empowers teams to build best-in-class MMMs and drive better business outcomes." said Google Senior Director, Data Science, Harikesh Nair.

Meridian is currently offered in limited availability, with plans to offer general availability to all marketers and data scientists soon.

"MMMs today are not perfect, but are evolving. With Meridian, we look to help your team navigate toward your future North Star, both through innovation, and by sharing our data in conjunction with an open source model. We welcome everyone to join us in this effort," said Nair.