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…