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Trustworthy Online Controlled Experiments
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Book Synopsis Trustworthy Online Controlled Experiments by : Ron Kohavi
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.
Book Synopsis Experimentation Works by : Stefan H. Thomke
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 252 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.
Book Synopsis Trustworthy Online Controlled Experiments by : Ron Kohavi
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: This practical guide for students, researchers and practitioners offers real world guidance for data-driven decision making and innovation.
Book Synopsis Testing 1 - 2 - 3 by : Johannes Ledolter
Download or read book Testing 1 - 2 - 3 written by Johannes Ledolter and published by Stanford University Press. This book was released on 2007 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives students, practitioners, and managers a set of practical and valuable tools for designing and analyzing experiments, emphasizing applications in marketing and service operations such as website design, direct mail campaigns, and in-store tests.
Download or read book Lean Analytics written by Alistair Croll and published by "O'Reilly Media, Inc.". This book was released on 2024-02-23 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you're a startup founder trying to disrupt an industry or an entrepreneur trying to provoke change from within, your biggest challenge is creating a product people actually want. Lean Analytics steers you in the right direction. This book shows you how to validate your initial idea, find the right customers, decide what to build, how to monetize your business, and how to spread the word. Packed with more than thirty case studies and insights from over a hundred business experts, Lean Analytics provides you with hard-won, real-world information no entrepreneur can afford to go without. Understand Lean Startup, analytics fundamentals, and the data-driven mindset Look at six sample business models and how they map to new ventures of all sizes Find the One Metric That Matters to you Learn how to draw a line in the sand, so you'll know it's time to move forward Apply Lean Analytics principles to large enterprises and established products
Book Synopsis Experimentation for Engineers by : David Sweet
Download or read book Experimentation for Engineers written by David Sweet and published by Simon and Schuster. This book was released on 2023-03-21 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimize the performance of your systems with practical experiments used by engineers in the world’s most competitive industries. In Experimentation for Engineers: From A/B testing to Bayesian optimization you will learn how to: Design, run, and analyze an A/B test Break the "feedback loops" caused by periodic retraining of ML models Increase experimentation rate with multi-armed bandits Tune multiple parameters experimentally with Bayesian optimization Clearly define business metrics used for decision-making Identify and avoid the common pitfalls of experimentation Experimentation for Engineers: From A/B testing to Bayesian optimization is a toolbox of techniques for evaluating new features and fine-tuning parameters. You’ll start with a deep dive into methods like A/B testing, and then graduate to advanced techniques used to measure performance in industries such as finance and social media. Learn how to evaluate the changes you make to your system and ensure that your testing doesn’t undermine revenue or other business metrics. By the time you’re done, you’ll be able to seamlessly deploy experiments in production while avoiding common pitfalls. About the technology Does my software really work? Did my changes make things better or worse? Should I trade features for performance? Experimentation is the only way to answer questions like these. This unique book reveals sophisticated experimentation practices developed and proven in the world’s most competitive industries that will help you enhance machine learning systems, software applications, and quantitative trading solutions. About the book Experimentation for Engineers: From A/B testing to Bayesian optimization delivers a toolbox of processes for optimizing software systems. You’ll start by learning the limits of A/B testing, and then graduate to advanced experimentation strategies that take advantage of machine learning and probabilistic methods. The skills you’ll master in this practical guide will help you minimize the costs of experimentation and quickly reveal which approaches and features deliver the best business results. What's inside Design, run, and analyze an A/B test Break the “feedback loops” caused by periodic retraining of ML models Increase experimentation rate with multi-armed bandits Tune multiple parameters experimentally with Bayesian optimization About the reader For ML and software engineers looking to extract the most value from their systems. Examples in Python and NumPy. About the author David Sweet has worked as a quantitative trader at GETCO and a machine learning engineer at Instagram. He teaches in the AI and Data Science master's programs at Yeshiva University. Table of Contents 1 Optimizing systems by experiment 2 A/B testing: Evaluating a modification to your system 3 Multi-armed bandits: Maximizing business metrics while experimenting 4 Response surface methodology: Optimizing continuous parameters 5 Contextual bandits: Making targeted decisions 6 Bayesian optimization: Automating experimental optimization 7 Managing business metrics 8 Practical considerations
Book Synopsis You Should Test That by : Chris Goward
Download or read book You Should Test That written by Chris Goward and published by John Wiley & Sons. This book was released on 2012-12-21 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to convert website visitors into customers Part science and part art, conversion optimization is designed to turn visitors into customers. Carefully developed testing procedures are necessary to help you fine-tune images, headlines, navigation, colors, buttons, and every other element, creating a website that encourages visitors to take the action you seek. This book guides you through creating an optimization strategy that supports your business goals, using appropriate analytics tools, generating quality testing ideas, running online experiments, and making the adjustments that work. Conversion optimization is part science and part art; this guide provides step-by-step guidance to help you optimize your website for maximum conversion rates Explains how to analyze data, prioritize experiment opportunities, and choose the right testing methods Helps you learn what to adjust, how to do it, and how to analyze the results Features hands-on exercises, case studies, and a full-color insert reinforcing key tactics Author has used these techniques to assist Fortune 500 clients You Should Test That explains both the "why" and the "how" of conversion optimization, helping you maximize the value of your website.
Book Synopsis Statistical Methods in Online A/B Testing by : Georgi Zdravkov Georgiev
Download or read book Statistical Methods in Online A/B Testing written by Georgi Zdravkov Georgiev and published by . This book was released on 2019-09-28 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Statistical Methods in Online A/B Testing" is a comprehensive guide to statistics in online controlled experiments, a.k.a. A/B tests, that tackles the difficult matter of statistical inference in a way accessible to readers with little to no prior experience with it. Each concept is built from the ground up, explained thoroughly, and illustrated with practical examples from website testing. The presentation is straight to the point and practically oriented so you can apply the takeaways in your daily work.It is a must-read for anyone looking for a deep understanding of how to make data-driven business decisions through experimentation: conversion rate optimizers, product managers, growth experts, data analysts, marketing managers, experts in user experience and design. The new research presented and the fresh perspective on how to apply statistics and experimentation to achieve business goals make for an interesting read even for experienced statisticians.The book deals with scientific methods, but their introductions and explanations are grounded in the business goals they help achieve, such as innovating under controlled risk, and estimating the effect of proposed business actions before committing to them. While the book doesn't shy away from math and formulas, it is to the extent to which these are essential for understanding and applying the underlying concepts. The presentation is friendly to readers with little to no prior knowledge in statistics. Artificial and impractical examples like dice rolling and betting are absent, instead statistical concepts are illustrated through scenarios which might well be mistaken with the last couple of A/B tests you managed.This book also doesn't shy away from the fact that much of the current statistical theory and practice in online A/B testing is misguided, misinterpreted, or misapplied. It also addresses the issue of blind copying of scientific applications without due consideration of the unique features of online business, which is widespread. The book will help you avoid these malpractices by explicitly pointing out frequent mistakes, while also helping you align your usage of statistics and experimentation with any business goals you might want to pursue.
Download or read book A / B Testing written by Dan Siroker and published by John Wiley & Sons. This book was released on 2015-07-27 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: How Your Business Can Use the Science That Helped Win the White House The average conversion rate—the rate at which visitors convert into customers—across the web is only 2%. That means it's likely that 98% of visitors to your website won't end up converting into customers. What's the solution? A/B testing. A/B testing is the simple idea of showing several different versions of a web page to live traffic, and then measuring the effect each version has on visitors. Using A/B testing, companies can improve the effectiveness of their marketing and user experience and, in doing so, can sometimes double or triple their conversion rates. Testing has been fundamental in driving the success of Google, Amazon, Netflix, and other top tech companies. Even Barack Obama and Mitt Romney had dedicated teams A/B testing their campaign websites during the 2012 Presidential race. In the past, marketing teams were unable to unleash the power of A/B testing because it required costly engineering and IT resources. Today, a new generation of technology that enables marketers to run A/B tests without depending on engineers is emerging and quickly becoming one of the most powerful tools for making data-driven decisions. Authors Dan Siroker and Pete Koomen are cofounders of Optimizely, the leading A/B testing platform used by more than 5,000 organizations across the world. A/B Testing: The Most Powerful Way to Turn Clicks Into Customers offers best practices and lessons learned from more than 300,000 experiments run by Optimizely customers. You'll learn: What to test How to choose the testing solution that's right for your organization How to assemble an A/B testing dream team How to create personalized experiences for every visitor And much more Marketers and web professionals will become obsolete if they don't embrace a data-driven approach to decision making. This book shows you how, no matter your technical expertise.
Book Synopsis Running Randomized Evaluations by : Rachel Glennerster
Download or read book Running Randomized Evaluations written by Rachel Glennerster and published by Princeton University Press. This book was released on 2013-11-24 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive yet accessible guide to running randomized impact evaluations of social programs. Drawing on the experience of researchers at the Abdul Latif Jameel Poverty Action Lab, which has run hundreds of such evaluations in dozens of countries throughout the world, it offers practical insights on how to use this powerful technique, especially in resource-poor environments. This step-by-step guide explains why and when randomized evaluations are useful, in what situations they should be used, and how to prioritize different evaluation opportunities. It shows how to design and analyze studies that answer important questions while respecting the constraints of those working on and benefiting from the program being evaluated. The book gives concrete tips on issues such as improving the quality of a study despite tight budget constraints, and demonstrates how the results of randomized impact evaluations can inform policy. With its self-contained modules, this one-of-a-kind guide is easy to navigate. It also includes invaluable references and a checklist of the common pitfalls to avoid. Provides the most up-to-date guide to running randomized evaluations of social programs, especially in developing countries Offers practical tips on how to complete high-quality studies in even the most challenging environments Self-contained modules allow for easy reference and flexible teaching and learning Comprehensive yet nontechnical
Book Synopsis Product Analytics by : Joanne Rodrigues
Download or read book Product Analytics written by Joanne Rodrigues and published by Addison-Wesley Professional. This book was released on 2020-08-27 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: Use Product Analytics to Understand Consumer Behavior and Change It at Scale Product Analytics is a complete, hands-on guide to generating actionable business insights from customer data. Experienced data scientist and enterprise manager Joanne Rodrigues introduces practical statistical techniques for determining why things happen and how to change what people do at scale. She complements these with powerful social science techniques for creating better theories, designing better metrics, and driving more rapid and sustained behavior change. Writing for entrepreneurs, product managers/marketers, and other business practitioners, Rodrigues teaches through intuitive examples from both web and offline environments. Avoiding math-heavy explanations, she guides you step by step through choosing the right techniques and algorithms for each application, running analyses in R, and getting answers you can trust. Develop core metrics and effective KPIs for user analytics in any web product Truly understand statistical inference, and the differences between correlation and causation Conduct more effective A/B tests Build intuitive predictive models to capture user behavior in products Use modern, quasi-experimental designs and statistical matching to tease out causal effects from observational data Improve response through uplift modeling and other sophisticated targeting methods Project business costs/subgroup population changes via advanced demographic projection Whatever your product or service, this guide can help you create precision-targeted marketing campaigns, improve consumer satisfaction and engagement, and grow revenue and profits. Register your book for convenient access to downloads, updates, and/or corrections as they become available. See inside book for details.
Book Synopsis The Power of Experiments by : Michael Luca
Download or read book The Power of Experiments written by Michael Luca and published by MIT Press. This book was released on 2021-03-02 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: How tech companies like Google, Airbnb, StubHub, and Facebook learn from experiments in our data-driven world—an excellent primer on experimental and behavioral economics Have you logged into Facebook recently? Searched for something on Google? Chosen a movie on Netflix? If so, you've probably been an unwitting participant in a variety of experiments—also known as randomized controlled trials—designed to test the impact of different online experiences. Once an esoteric tool for academic research, the randomized controlled trial has gone mainstream. No tech company worth its salt (or its share price) would dare make major changes to its platform without first running experiments to understand how they would influence user behavior. In this book, Michael Luca and Max Bazerman explain the importance of experiments for decision making in a data-driven world. Luca and Bazerman describe the central role experiments play in the tech sector, drawing lessons and best practices from the experiences of such companies as StubHub, Alibaba, and Uber. Successful experiments can save companies money—eBay, for example, discovered how to cut $50 million from its yearly advertising budget—or bring to light something previously ignored, as when Airbnb was forced to confront rampant discrimination by its hosts. Moving beyond tech, Luca and Bazerman consider experimenting for the social good—different ways that governments are using experiments to influence or “nudge” behavior ranging from voter apathy to school absenteeism. Experiments, they argue, are part of any leader's toolkit. With this book, readers can become part of “the experimental revolution.”
Book Synopsis Field Experiments by : Alan S. Gerber
Download or read book Field Experiments written by Alan S. Gerber and published by W W Norton & Company Incorporated. This book was released on 2012 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: A brief, authoritative introduction to field experimentation in the social sciences. Written by two leading experts on experimental methods, this concise text covers the major aspects of experiment design, analysis, and interpretation in clear language. Students learn how to design randomized experiments, analyze the data, and interpret the findings. Beyond the authoritative coverage of the basic methodology, the authors include numerous features to help students achieve a deeper understanding of field experimentation, including rich examples from the social science literature, problem sets and discussions, data sets, and further readings.
Book Synopsis The Innovator's Hypothesis by : Michael Schrage
Download or read book The Innovator's Hypothesis written by Michael Schrage and published by MIT Press. This book was released on 2014-09-12 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the best way for a company to innovate? That's exactly the wrong question.The better question: How can organizations get the maximum possible value from their innovationinvestments? Advice recommending "innovation vacations" and the luxury of failure may bewonderful for organizations with time to spend and money to waste. But this book addresses theinnovation priorities of companies that live in the real world of limits. They want fast, frugal,and high impact innovations. They don't just seek superior innovation, they want superiorinnovators. In The Innovator's Hypothesis, innovation expertMichael Schrage advocates a cultural and strategic shift: small teams, collaboratively--andcompetitively -- crafting business experiments that make top management sit up and take notice.Creativity within constraints -- clear deadlines and clear deliverables -- is what seriousinnovation cultures do. Schrage introduces the 5X5 framework: giving diverse teams of five people upto five days to come up with portfolios of five business experiments costing no more than $5,000each and taking no longer than five weeks to run. The book describes multiple portfolios of 5X5experiments drawn from Schrage's advisory work and innovation workshops worldwide. These includefinancial service approaches for improving customer service and addressing security challenges; apharmaceutical company's hypotheses for boosting regulatory compliance; and a diaper divisions'efforts to give babies and parents alike better "diapering experiences" withglow-in-the-dark adhesives, diagnostic capability, and bundled wipes. Schrage's5X5 is enterprise innovation gone viral: Successful 5X5s make people more effective innovators, andmore effective innovators mean more effective innovations.
Download or read book Uncontrolled written by Jim Manzi and published by Basic Books. This book was released on 2012-05-01 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do we know which social and economic policies work, which should be continued, and which should be changed? Jim Manzi argues that throughout history, various methods have been attempted -- except for controlled experimentation. Experiments provide the feedback loop that allows us, in certain limited ways, to identify error in our beliefs as a first step to correcting them. Over the course of the first half of the twentieth century, scientists invented a methodology for executing controlled experiments to evaluate certain kinds of proposed social interventions. This technique goes by many names in different contexts (randomized control trials, randomized field experiments, clinical trials, etc.). Over the past ten to twenty years this has been increasingly deployed in a wide variety of contexts, but it remains the red-haired step child of modern social science. This is starting to change, and this change should be encouraged and accelerated, even though the staggering complexity of human society creates severe limits to what social science could be realistically expected to achieve. Randomized trials have shown, for example, that work requirements for welfare recipients have succeeded like nothing else in encouraging employment, that charter school vouchers have been successful in increasing educational attainment for underprivileged children, and that community policing has worked to reduce crime, but also that programs like Head Start and Job Corps, which might be politically attractive, fail to attain their intended objectives. Business leaders can also use experiments to test decisions in a controlled, low-risk environment before investing precious resources in large-scale changes -- the philosophy behind Manzi's own successful software company. In a powerful and masterfully-argued book, Manzi shows us how the methods of science can be applied to social and economic policy in order to ensure progress and prosperity.
Book Synopsis Statistical Inference as Severe Testing by : Deborah G. Mayo
Download or read book Statistical Inference as Severe Testing written by Deborah G. Mayo and published by Cambridge University Press. This book was released on 2018-09-20 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mounting failures of replication in social and biological sciences give a new urgency to critically appraising proposed reforms. This book pulls back the cover on disagreements between experts charged with restoring integrity to science. It denies two pervasive views of the role of probability in inference: to assign degrees of belief, and to control error rates in a long run. If statistical consumers are unaware of assumptions behind rival evidence reforms, they can't scrutinize the consequences that affect them (in personalized medicine, psychology, etc.). The book sets sail with a simple tool: if little has been done to rule out flaws in inferring a claim, then it has not passed a severe test. Many methods advocated by data experts do not stand up to severe scrutiny and are in tension with successful strategies for blocking or accounting for cherry picking and selective reporting. Through a series of excursions and exhibits, the philosophy and history of inductive inference come alive. Philosophical tools are put to work to solve problems about science and pseudoscience, induction and falsification.
Book Synopsis Fundamentals of A/B Testing by : Alex Dombrowski
Download or read book Fundamentals of A/B Testing written by Alex Dombrowski and published by . This book was released on 2020-03-22 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The A/B Testing mindset at a company evolves through four stages. Intuition: In the beginning, intuition drives decisions. The company acknowledges the user, but does not solicit feedback. Data is sparse. Data driven: Decision makers use data to supplement their intuition in cases when they are less confident. The data lacks richness and methods for processing data are crude. Causal statements are drawn from situations that do not warrant them. Data is not respected. A/B Testing: The company unearths the practice of A/B Testing and embarks on the well-trodden path of successful companies. A/B Testing gains followers, however infrastructure is nascent and statistical methods are questionable. The goal is to get a number, not necessarily a correct number. The thought is that a number from an A/B Test must be trustworthy because, well, it's from an A/B Test! Sound A/B Testing: The company is educated on the fundamentals of A/B Testing. The company adopts sounds practices, produces trustworthy numbers, and makes informed go/no-go decisions. Regardless where your company is on the journey, this book will guide you to the last stage.
