Building a Culture of Experimentation: Quantifying the Value of Experimentation

Experimentation plays a crucial role in attributing KPI movements to business value. It helps create robust data about user reactions to new features and allows for the identification of incremental value or risk avoided. By randomly assigning users into control and treatment groups, businesses can ensure that results are not influenced by external factors. Experimentation also enables quantification of experiment value, which can be used to calculate ROI and prioritize feature development based on customer needs. Even small experiments contribute to overall business growth as they provide valuable learning opportunities and help in making data-driven decisions.