Final answer:
An attribution model is a framework that assigns credit for sales and conversions to different marketing touchpoints along a customer's journey. It is not just a mathematical equation but a strategic method used to evaluate the effectiveness of specific marketing efforts in driving conversions.
Step-by-step explanation:
An attribution model is the set of rules that determines how credit for revenue and conversions is assigned to various touchpoints in conversion paths. Rather than a simple mathematical equation, it involves the application of concepts that can help allocate the value to different marketing efforts throughout a customer's journey to a conversion.
For example, if a customer was influenced by multiple advertisements before making a purchase, an attribution model would help in deciphering which ad had the most impact or how the impact should be divided among the ads.