Going Live
9 important questions on Going Live
How to design experiments to maximize learning?
What is the most critical aspect of experimentation and learning?
Which 7 factors tend to be common to all experiments?
- Fidelity
- Cost
- Iteration time
- Capacity
- Sequence
- Signal-to-noise ratio
- Type
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is meant with iteration time?
The time from the initial planning of an experiment to when the analyzed results are available and used for planning another iteration.
What is meant with signal-to-noise ratio?
The extent to which the variable of interest is obscured by other variables.
How can the Effect of Noise be minimized?
To temper the effects of noise, the I&D Team made heavy use of two techniques:
- repetition of trials
- experimental controls.
How can High Fidelity be achieved?
testing has the drawback of amplifying noise, it has the advantage of increasing fidelity. Achieving high fidelity required substantial investment in
bank remodeling, personnel training, technology, and the like.
What is crucial to effective experimentation?
What does such a decision require?
- First, performance data from the test locations and the control branches were analyzed to determine whether the experiment had enhanced customer satisfaction, revenue generation, productivity, or any other relevant measure of performance.
- Second, a cost-benefit analysis was carried out to ascertain whether the performance gain outweighed the expense required to introduce the new process or technology throughout the broader branch network.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
