Experimentation Works
When it comes to innovation, relying on intuition won't cut it anymore. Whether it's improving customer experiences, trying out new business models, or developing new products, even the most experienced managers often get it wrong. This is especially true in the online world, where predicting customer behavior is virtually impossible.Managers can, however, discover whether a new product, service, or business model will fail or succeed--by subjecting it to rigorous experimentation. Think about it. A pharmaceutical company would never introduce a new drug without first conducting a round of experiments based on established scientific protocols. Yet that's essentially what many companies do when they roll out new products and services.As Harvard Business School professor Stefan Thomke shows in this eye-opening and essential book, the "best guess" approach to innovation is changing fast. There are now leading companies that conduct more than ten thousand online controlled experiments annually, engaging millions of users. These organizations have discovered that an "experiment with everything" approach has a big payoff, giving them a considerable competitive advantage.How can you do this at your company? Leaders and managers need to create an "experimentation organization" that masters the science of testing and puts the discipline of experimentation at the center of the innovation process. It used to take companies years to build the infrastructure and develop the expertise to run hundreds of experiments each day. But Thomke shows how, with advances in technology, these capabilities are 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 better customer experiences, and generate huge financial returns.Filled with engaging and instructive stories of leading experimentation organizations, Experimentation Works will be your guidebook to a truly new way of thinking and innovating.

Experimentation Works Details

TitleExperimentation Works
Author
LanguageEnglish
ReleaseFeb 18th, 2020
PublisherHarvard Business Review Press
ISBN-139781633697102
Rating
GenreBusiness

Experimentation Works Review

  • Greg
    January 1, 1970
    Leading innovation in organization requires experimentations. We wouldnt know if our ideas will stand the test of even a short time if we havent tested it using the scientific method.This book is full of exciting and deep insights on business experimentation. It lays the foundation of what it means to conduct business experiments as well as the possible hindrances towards its adoption.The books also helps organizations dealing with so many uncertainties to develop the discipline of Leading innovation in organization requires experimentations. We wouldn’t know if our ideas will stand the test of even a short time if we haven’t tested it using the scientific method.This book is full of exciting and deep insights on business experimentation. It lays the foundation of what it means to conduct business experiments as well as the possible hindrances towards its adoption.The books also helps organizations dealing with so many uncertainties to develop the discipline of experimentation so they can isolate data noises from the critical insights needed to make tractions of their goals.
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  • Silvia
    January 1, 1970
    Experimentation* is important in companies but as the author showed the ability to try thousands of things of which only 5% are successful is reserved to companies that already did it. I'm not sure Google or IBM or booking.com would have been so open to experiments in their early days. All in all, the author made his point. I think this book is perfect students as reading in graduate studies or for business owners that have a profit and want to grow their business. * - I got this book in advance Experimentation* is important in companies but as the author showed the ability to try thousands of things of which only 5% are successful is reserved to companies that already did it. I'm not sure Google or IBM or booking.com would have been so open to experiments in their early days. All in all, the author made his point. I think this book is perfect students as reading in graduate studies or for business owners that have a profit and want to grow their business. * - I got this book in advance for an honest review
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  • Darya
    January 1, 1970
    Innovation is the key strategy for survival today. The world of technology and entrepreneurial minds is booming and companies who do not transform into digital, do not innovate in the right time have less chance for survival. This book is a very comprehensive practical guide to innovation from idea to testing and understanding the results.
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