First vs. Second-Order Markov Chain Models and When Each Should Be Used

For most B2B marketers, the concept of Markov chains – as well as the orders of chains – are foreign concepts altogether that truly belong more in data science than in marketing. So, this article will shed light on the utility and applicability of first vs. second-order Markov chain models, as well as apply them to B2B buyer journey examples to help any non-data scientist understand what’s at stake here.