Experimenting: What Makes a Good Business Experiment?

Stefan Thomke ()
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Stefan Thomke: Harvard Business School, Technology and Operations Management

A chapter in Connected Business, 2021, pp 175-196 from Springer

Abstract: Abstract Running good business experiments has become a competitive advantage but many organizations have considerable difficulty executing them. Although the process of experimentation seems straightforward, it is surprisingly hard in practice, owing to myriad organizational, management, and technical challenges. Most tests of new business initiatives are too informal, as they are not based on proven scientific and statistical methods. Based on a study of best practices in leading companies, we will see how you can run good experiments—and make better decisions—by answering seven important questions (and follow scientific principles). The chapter ends with a detailed checklist for good business experiments.

Keywords: Business experimentation; Blind tests; Big data; Fearless innovation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-76897-3_10

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DOI: 10.1007/978-3-030-76897-3_10

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