Test and Learn
In today's fast-paced business environment, retailers have to frequently experiment different strategies to ensure they are reacting nimbly to market changes. Leaders have plenty of ideas to improve their business, but choosing which ideas to implement often feels like guesswork. Some decisions feel right, but making decisions based on gut-feel is hard, especially when choosing among interacting business interventions intended to change some aspect of business. Often, even after executing some business program, doubts linger about its effectiveness. A lack of investigative rigor creates mixed results and hence, a feeling that the study was incomplete or performed inadequately. With so many dynamics constantly changing the true measurement of experiment effectiveness becomes difficult. Controlled randomized experimentation can help cut through this complexity and create a reliable foundation based on science for accurately predicting the response to proposed interventions.
Test → Learn is thoughtfully designed to help different functions rapidly iterate tests and validate results:
- Applicable across industries and functions, it has an extensive library of tests and metrics and a modular design which can adapt to any test designed around Marketing, Pricing, Promotion, Placement or Merchandizing.
- Automated suggestions of test and control stores using robust statistical models take into account multiple store characteristics and adjust for tests running in parallel.
- Extensive analysis of results across both key metrics and secondary effects like cannibalization.
Test → Learn helps design experiments in an impact-driven manner which allow leaders to reach conclusions easily and take actionable decisions before extending experiment results to the entire company. Test → Learn has powered an accelerated experiment-to-action culture at several of IA’s clients delivering a 100%+ ROI on experimentation costs!