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The Power of Experiments

Decision-Making in a Data Driven World

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The Power of Experiments

Von: Michael Luca, Max H. Bazerman
Gesprochen von: Timothy Andrés Pabon
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Über diesen Titel

How organizations - including Google, StubHub, Airbnb, and Facebook - learn from experiments in a data-driven world.

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 govenments 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."

©2020 Michael Luca and Max H. Bazerman (P)2020 Brilliance Publishing, Inc., all rights reserved.
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Kritikerstimmen

“Driven by experimentation, a further transformation is in the air.”The New Yorker

“Luca and Bazerman balance their passion for experiments with a recognition of its limits.”Wall Street Journal

"For business economists, this book offers important insight into the use of experiments for organizations and their leadership. The benefits of experiments to an organization are the ability to test ideas, understand tradeoffs, and evaluate existing products and procedures. Experiments can also be a tool for discovery, with or without a theory to test. Leadership can use experiments to learn what they do not know, then adapt and grow their organizations with informed decisions."Business Economics

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