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Author: Stefan H. Thomke Publisher: Harvard Business Press ISBN: 1633697118 Category : Business & Economics Languages : en Pages : 266
Book Description
Don't fly blind. See how the power of experiments works for you. When it comes to improving customer experiences, trying out new business models, or developing new products, even the most experienced managers often get it wrong. They discover that intuition, experience, and big data alone don't work. What does? Running disciplined business experiments. And what if companies roll out new products or introduce new customer experiences without running these experiments? They fly blind. That's what Harvard Business School professor Stefan Thomke shows in this rigorously researched and eye-opening book. It guides you through best practices in business experimentation, illustrates how these practices work at leading companies, and answers some fundamental questions: What makes a good experiment? How do you test in online and brick-and-mortar businesses? In B2B and B2C? How do you build an experimentation culture? Also, best practice means running many experiments. Indeed, some hugely successful companies, such as Amazon, Booking.com, and Microsoft, run tens of thousands of controlled experiments annually, engaging millions of users. Thomke shows us how these and many other organizations prove that experimentation provides significant competitive advantage. How can managers create this capability at their own companies? Essential is developing an experimentation organization that prizes the science of testing and puts the discipline of experimentation at the center of its innovation process. While it once took companies years to develop the tools for such large-scale experiments, advances in technology have put these tools at the fingertips of almost any business professional. By combining the power of software and the rigor of controlled experiments, today's managers can make better decisions, create magical customer experiences, and generate big financial returns. Experimentation Works is your guidebook to a truly new way of thinking and innovating.
Author: Stefan H. Thomke Publisher: Harvard Business Press ISBN: 1633697118 Category : Business & Economics Languages : en Pages : 266
Book Description
Don't fly blind. See how the power of experiments works for you. When it comes to improving customer experiences, trying out new business models, or developing new products, even the most experienced managers often get it wrong. They discover that intuition, experience, and big data alone don't work. What does? Running disciplined business experiments. And what if companies roll out new products or introduce new customer experiences without running these experiments? They fly blind. That's what Harvard Business School professor Stefan Thomke shows in this rigorously researched and eye-opening book. It guides you through best practices in business experimentation, illustrates how these practices work at leading companies, and answers some fundamental questions: What makes a good experiment? How do you test in online and brick-and-mortar businesses? In B2B and B2C? How do you build an experimentation culture? Also, best practice means running many experiments. Indeed, some hugely successful companies, such as Amazon, Booking.com, and Microsoft, run tens of thousands of controlled experiments annually, engaging millions of users. Thomke shows us how these and many other organizations prove that experimentation provides significant competitive advantage. How can managers create this capability at their own companies? Essential is developing an experimentation organization that prizes the science of testing and puts the discipline of experimentation at the center of its innovation process. While it once took companies years to develop the tools for such large-scale experiments, advances in technology have put these tools at the fingertips of almost any business professional. By combining the power of software and the rigor of controlled experiments, today's managers can make better decisions, create magical customer experiences, and generate big financial returns. Experimentation Works is your guidebook to a truly new way of thinking and innovating.
Author: David J. Bland Publisher: John Wiley & Sons ISBN: 1119551420 Category : Business & Economics Languages : en Pages : 365
Book Description
A practical guide to effective business model testing 7 out of 10 new products fail to deliver on expectations. Testing Business Ideas aims to reverse that statistic. In the tradition of Alex Osterwalder’s global bestseller Business Model Generation, this practical guide contains a library of hands-on techniques for rapidly testing new business ideas. Testing Business Ideas explains how systematically testing business ideas dramatically reduces the risk and increases the likelihood of success for any new venture or business project. It builds on the internationally popular Business Model Canvas and Value Proposition Canvas by integrating Assumptions Mapping and other powerful lean startup-style experiments. Testing Business Ideas uses an engaging 4-color format to: Increase the success of any venture and decrease the risk of wasting time, money, and resources on bad ideas Close the knowledge gap between strategy and experimentation/validation Identify and test your key business assumptions with the Business Model Canvas and Value Proposition Canvas A definitive field guide to business model testing, this book features practical tips for making major decisions that are not based on intuition and guesses. Testing Business Ideas shows leaders how to encourage an experimentation mindset within their organization and make experimentation a continuous, repeatable process.
Author: Stefan H. Thomke Publisher: Harvard Business Press ISBN: 9781578517503 Category : Business & Economics Languages : en Pages : 336
Book Description
Every company's ability to innovate depends on a process of experimentation whereby new products and services are created and existing ones improved. But the cost of experimentation often limits innovation. New technologies--including computer modeling and simulation--promise to lift that constraint by changing the economics of experimentation. Never before has it been so economically feasible to ask "what-if" questions and generate preliminary answers. These technologies amplify the impact of learning, paving the way for higher R&D performance and innovation and new ways of creating value for customers.In Experimentation Matters, Stefan Thomke argues that to unlock such potential, companies must not only understand the power of experimentation and new technologies, but also change their processes, organization, and management of innovation. He explains why experimentation is so critical to innovation, underscores the impact of new technologies, and outlines what managers must do to integrate them successfully. Drawing on a decade of research in multiple industries as diverse as automotive, semiconductors, pharmaceuticals, chemicals, and banking, Thomke provides striking illustrations of how companies drive strategy and value creation by accommodating their organizations to new experimentation technologies.As in the outcome of any effective experiment, Thomke also reveals where that has not happened, and explains why. In particular, he shows managers how to: implement "front-loaded" innovation processes that identify potential problems before resources are committed and design decisions locked in; experiment and test frequently without overloading their organizations; integrate new technologies into the current innovation system; organize for rapid experimentation; fail early and often, but avoid wasteful "mistakes"; and manage projects as experiments.Pointing to the custom integrated circuit industry--a multibillion dollar market--Thomke also shows what happens when new experimentation technologies are taken beyond firm boundaries, thereby changing the way companies create new products and services with customers and suppliers. Probing and thoughtful, Experimentation Matters will influence how both executives and academics think about experimentation in general and innovation processes in particular. Experimentation has always been the engine of innovation, and Thomke reveals how it works today.
Author: Rob James Publisher: Kogan Page Publishers ISBN: 1398601683 Category : Business & Economics Languages : en Pages : 273
Book Description
Business experimentation can not only create measurable value for organizations, it can provide the inspiration to break with the habits of the past by dealing with challenges and exploiting opportunities. This book is a step-by-step, practical guide to the six-stage business experiment process, from understanding the problem or opportunity to creating a hypothesis, planning the experiment and analysing the findings. It explores the top design criteria for successful and impactful business experiments and includes valuable case studies covering problem solving, performance improvement and strategic innovation. To support the process, Business Experimentation also includes downloadable, editable templates, worksheets and activities for use in ideation and planning sessions. This business experiment methodology can be used to support a one-off initiative or to underpin desired behaviours as part of a wider organizational change programme, as experimentation encourages people to be bold, take risks and seek new ways of doing things. Based on programmes the authors have run with a variety of leading organizations and with astonishing results, this practical guide provides businesses with the confidence to get started with experimentation and the tools to succeed.
Author: Gordon Patzer Publisher: Praeger ISBN: 0899309607 Category : Business & Economics Languages : en Pages : 0
Book Description
A thorough presentation of the use, types, and applications of experiments in marketing research. The presentation shows that experiment research can benefit marketing research immensely. As a consequent, the information collected throught an experiment can be invaluable to assist marketing decision makers. This book will therefore be of value to marketing researchers and students of marketing research, and will also be of value to marketing practitioners and general managers in business and non-business organizations. This book explains that the primary reason that experiments are valuable to assist decision making involves the concept of causality—a relationship in which a change in one variable causes a change in another variable (i.e., cause-and-effect relationship). Three criteria required to properly conduct an experiment that allows inferences about cause-and-effect relationships with reasonable certainty are: (1) evidence of association, (2) appropriate timing, and (3) elimination of alternative explanations.
Author: Michael Luca Publisher: MIT Press ISBN: 0262542277 Category : Business & Economics Languages : en Pages : 229
Book Description
How tech companies like Google, Airbnb, StubHub, and Facebook learn from experiments in our data-driven world—an excellent primer on experimental and behavioral economics Have you logged into Facebook recently? Searched for something on Google? Chosen a movie on Netflix? If so, you've probably been an unwitting participant in a variety of experiments—also known as randomized controlled trials—designed to test the impact of different online experiences. Once an esoteric tool for academic research, the randomized controlled trial has gone mainstream. No tech company worth its salt (or its share price) would dare make major changes to its platform without first running experiments to understand how they would influence user behavior. In this book, Michael Luca and Max Bazerman explain the importance of experiments for decision making in a data-driven world. Luca and Bazerman describe the central role experiments play in the tech sector, drawing lessons and best practices from the experiences of such companies as StubHub, Alibaba, and Uber. Successful experiments can save companies money—eBay, for example, discovered how to cut $50 million from its yearly advertising budget—or bring to light something previously ignored, as when Airbnb was forced to confront rampant discrimination by its hosts. Moving beyond tech, Luca and Bazerman consider experimenting for the social good—different ways that governments are using experiments to influence or “nudge” behavior ranging from voter apathy to school absenteeism. Experiments, they argue, are part of any leader's toolkit. With this book, readers can become part of “the experimental revolution.”
Author: Johannes Ledolter Publisher: Stanford University Press ISBN: 9780804756129 Category : Business & Economics Languages : en Pages : 326
Book Description
This book gives students, practitioners, and managers a set of practical and valuable tools for designing and analyzing experiments, emphasizing applications in marketing and service operations such as website design, direct mail campaigns, and in-store tests.
Author: Chris Goward Publisher: John Wiley & Sons ISBN: 1118463838 Category : Business & Economics Languages : en Pages : 389
Book Description
Learn how to convert website visitors into customers Part science and part art, conversion optimization is designed to turn visitors into customers. Carefully developed testing procedures are necessary to help you fine-tune images, headlines, navigation, colors, buttons, and every other element, creating a website that encourages visitors to take the action you seek. This book guides you through creating an optimization strategy that supports your business goals, using appropriate analytics tools, generating quality testing ideas, running online experiments, and making the adjustments that work. Conversion optimization is part science and part art; this guide provides step-by-step guidance to help you optimize your website for maximum conversion rates Explains how to analyze data, prioritize experiment opportunities, and choose the right testing methods Helps you learn what to adjust, how to do it, and how to analyze the results Features hands-on exercises, case studies, and a full-color insert reinforcing key tactics Author has used these techniques to assist Fortune 500 clients You Should Test That explains both the "why" and the "how" of conversion optimization, helping you maximize the value of your website.
Author: Ron Kohavi Publisher: Cambridge University Press ISBN: 1108590098 Category : Computers Languages : en Pages : 291
Book Description
Getting numbers is easy; getting numbers you can trust is hard. This practical guide by experimentation leaders at Google, LinkedIn, and Microsoft will teach you how to accelerate innovation using trustworthy online controlled experiments, or A/B tests. Based on practical experiences at companies that each run more than 20,000 controlled experiments a year, the authors share examples, pitfalls, and advice for students and industry professionals getting started with experiments, plus deeper dives into advanced topics for practitioners who want to improve the way they make data-driven decisions. Learn how to • Use the scientific method to evaluate hypotheses using controlled experiments • Define key metrics and ideally an Overall Evaluation Criterion • Test for trustworthiness of the results and alert experimenters to violated assumptions • Build a scalable platform that lowers the marginal cost of experiments close to zero • Avoid pitfalls like carryover effects and Twyman's law • Understand how statistical issues play out in practice.
Author: Howard R. Moskowitz Ph.D Publisher: Pearson Education ISBN: 0132716399 Category : Languages : en Pages : 341
Book Description
Really great products and really huge successes don’t come from focus groups! And if you simply rely on trial and error, or guesswork, you’ll lose far more often than you’ll win. Now, there’s a solution: Rule Developing Experimentation (RDE), the first systematized, disciplined, solution-oriented business process of experimentation. In Selling Blue Elephants, RDE’s creators reveal how to systematically design, test, and modify alternative ideas, packages, products, and services, to discover offerings your customers will be passionate about...even if they can’t articulate the need, much less the solution! Discover the seven easy steps that take you from cluelessness to clarity in just days... sometimes even hours. Watch RDE succeeding in companies ranging from Hewlett-Packard to Campbell’s, MasterCard to Maxwell House... and learn how to get the same outstanding results yourself, one step at a time, every time! Discover “how the world works” in your market Reveal the hidden rules that define your next breakthrough product Create prototypes that answer the right questions, fast Get at the truths your customers don’t know how to tell you Use automated tools to streamline the entire process Streamline your research, and get actionable answers in just days Extend RDE value throughout the enterprise From messaging to corporate communications to investor behavior
Author: Stefan H. Thomke
Author: Stefan H. Thomke
Author: David J. Bland
Author: Stefan H. Thomke
Author: Rob James
Author: Gordon Patzer
Author: Michael Luca
Author: Johannes Ledolter
Author: Chris Goward
Author: Ron Kohavi
Author: Howard R. Moskowitz Ph.D