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The company I work for (Efficient Frontier) has been developing and deploying just such a system for 5 years now. We've adapted portfolio trading algorithms from Wall St to the optimization of paid search campaigns on Google, Yahoo and MSN, and our algorithms look at historical and actual impression/click/cost/revenue/margin data in order to figure out how best to allocate spend across a keyword set.
There are other systems out there as well (Atlas Search and Dart Search most notably), but neither of them do data modeling *across* a keyword portfolio.
here is a question for u..
first .... was ef fired from the ebay a/c cause u guys couldn't deliver what u promised? that also in 3 months flat?
i say that no bid management s/w can ever replace an analyst..
as of now atleast .. u will need a very intelligent system
i say u should stick to ur normal bid mgmt
looking around into bidding solutions, i had a feeling that serious mathematical solution (enhancing bottom line results and not advertiser rules based robot) combined with self service is yet not out there.
we're trying to bring it to small and medium size advertisers that don't want the hassle of integration, service and analysts, and don't want to commit for long run before they see results.
I don't know where you got 3 months from, but try 2 full years. EBay took keyword mgmt inhouse when they bought Shopping.com for $600M+ and inherited Shopping's 20+ people who'd been devoted to SEM. If it makes you feel better to think EF was thrown out after 3 months, by all means live dilusionally. Fact is, though, under EF's system EBay had such good returns from PPC that they mentioned it in at least one earnings call during the period.
Also, there's a reason keyword mgmt firms and systems exist and are managing a large majority of the top 1000 PPC advertisers; if you can't figure out why it makes sense to do the same, I'd submit you either have a job to protect (yours) or work for a non-tech agency.