About experiments

From Me Pare Whanau
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about experimentation

  • see Harvard Business Review, Mar 11, Eric Anderson, Duncan Simester [A step-by-step guide to smart business experiments]
  • companies nowadays understand the power of analytics
  • most companies will get more value from simple business experiments
  • mangers need to become adept at techniques used by scientist and researchers
  • the goal is not to conduct perfect experiments, it is to make better decisions

7 rules for running experiments

  • focus on individuals and think short term - the most accurate experiments involve actions to individual customers, and not market segments
  • keep it simple - look for experiments that are easy to execute using existing resources
  • start with a proof-of-concept test - change one variable at a time
  • when the results come in, slice the data - look for subgroupings
  • try out of the box thinking
  • measure everything that matters
  • look for natural experiments