Companies make decisions based on historical trends and past experience. A more robust approach would be to use historical data to create hypotheses and provide empirical evidence to accept or reject the hypotheses.
Experimentation has become an essential tool to innovate and helps companies better manage myriad sources of uncertainty – what works and what does not? An ideal test enables companies to identify the cause-effect relationship by keeping all other potential causes ( e.g. regulatory, competitor activity etc.) constant. Experiments, when done correctly, can be potential differentiators and can provide a significant competitive edge.
Watch this video on how Trial Run enables marketers to measure campaign effectiveness scientifically and accurately.