Both Marketing Mix Modeling (MMM) and Multi-Touch Attribution (MTA) are techniques to understand the impact of various media drivers. MMM leverages probabilistic models to solve cross-channel media impact through statistical modeling. Modeling can incorporate any media type, business impact, and external market factors because it does not rely on any PII, pixel, or cookie level data.
MTA deterministically measures each consumer path to conversion and then aggregates to expose trends. This requires sophisticated tracking techniques and is typically limited to digital media and sales. Unfortunately, because of legal and technical tracking limitations, MTA has become more difficult and costly to manage. Both MMM and MTA are great approaches to understanding a business and can be used in tandem for a more complete picture.