Experimentation Works

Download or read book Experimentation Works written by Stefan H. Thomke and published by Harvard Business Press. This book was released on 2020-02-18 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Experimentation Works written by Stefan H. Thomke and published by . This book was released on 2020-02-18 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Experimentation Matters written by Stefan H. Thomke and published by Harvard Business Press. This book was released on 2003 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Testing Business Ideas written by David J. Bland and published by John Wiley & Sons. This book was released on 2019-11-06 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book First Works written by Brett Steele and published by . This book was released on 2009-01-01 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: During a tumultuous period in the 1960s and 70s, a new generation of architects began their careers amidst a period of profound social change, new conditions for architecture and the city and lasting changes to popular and critical forms of cultural production. First Works tells the story of this period and reassesses the conditions of architecture and the beginnings of architectural careers through a selection of projects undertaken during the 60s and 70s. The book presents a single key early project, in the form of models, sketches, photographs and drawings, by 20 young architectural practices: Archigram, Archizoom, Aldo Rossi, Alvaro Siza, Cedric Price, Robert Venturi, Norman Foster and Richard Rogers, Paul Virilio and Claude Parent, Rafael Moneo, Renzo Piano, Peter Eisenman, Coop Himmelb(l)au, Toyo Ito, Rem Koolhaas, Daniel Libeskind, Tom Mayne and Michael Rotondi, Morphosis, Bernard Tschumi, Herzog & de Meuron and Zaha Hadid. Alongside these 'first works', 20 invited critics, including Kenneth Frampton, Sylvia Lavin and Pier Vittorio Aureli, offer contemporary commentaries on these projects and their place within the architects' subsequent careers.

Download or read book Living Books written by Janneke Adema and published by MIT Press. This book was released on 2021-08-31 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reimagining the scholarly book as living and collaborative--not as commodified and essentialized, but in all its dynamic materiality. In this book, Janneke Adema proposes that we reimagine the scholarly book as a living and collaborative project--not as linear, bound, and fixed, but as fluid, remixed, and liquid, a space for experimentation. She presents a series of cutting-edge experiments in arts and humanities book publishing, showcasing the radical new forms that book-based scholarly work might take in the digital age. Adema's proposed alternative futures for the scholarly book go beyond such print-based assumptions as fixity, stability, the single author, originality, and copyright, reaching instead for a dynamic and emergent materiality. Adema suggests ways to unbind the book, describing experiments in scholarly book publishing with new forms of anonymous collaborative authorship, radical open access publishing, and processual, living, and remixed publications, among other practices. She doesn't cast digital as the solution and print as the problem; the problem in scholarly publishing, she argues, is not print itself, but the way print has been commodified and essentialized. Adema explores alternative, more ethical models of authorship; constructs an alternative genealogy of openness; and examines opportunities for intervention in current cultures of knowledge production. Finally, asking why it is that we cut and bind our research together at all, she examines two book publishing projects that experiment with remix and reuse and try to rethink and reperform the book-apparatus by taking responsibility for the cuts they make.

Download or read book Trustworthy Online Controlled Experiments written by Ron Kohavi and published by Cambridge University Press. This book was released on 2020-04-02 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.