The Economics of Experimentation

Organizations are economic agents which aim to maximize their net economic benefit. This is applicable whether they are launching a product/service or adopting a tool/process/practice. If we talk about Experimentation or Test & Learn’s adoption as a practice within organizations, we can argue that there is still a lot of potential which needs to be [...]

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The rooster’s crow causes the sun to rise. Eat chocolate & win the Nobel prize. If these statements don't make sense to you, this blog will.

In “The Book of Why”, authors Judea Pearl and Dana Mackenzie stress on the importance of causal inference over simple correlations. “The rooster’s crow is highly correlated with the sunrise; yet it does not cause the sunrise.” Advancements in technology and data science have changed this “concept of causal inference” to the “science of experimentation”, [...]

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Combine the power of experimentation with predictive analytics to measure campaign effectiveness

How do you accurately measure effectiveness of some of the below mentioned promotional campaigns? Product advertisements in catalogs, flyers and other forms of print media A multi-touch loyalty program for high value customers Product markdowns to a customer segment Impact of a new digital marketing program Impact of increasing radio advertising spend The obvious answer [...]

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