Taking Data a Step Further: Experimentation - Modern Distribution Management

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Taking Data a Step Further: Experimentation

Data helps tell a story, but it cannot tell it alone. According to an article from Harvard Business Review, "The data you already have can't tell you how customers will react to innovations." Take data a step further by experimenting with it.

Data helps tell a story, but it cannot tell it alone. Take data a step further by experimenting with it. To best implement an idea, first test how stakeholders will react and plan for any possible issues.

”The data you already have can’t tell you how customers will react to innovations,” say Stefan Thomke and Jim Manzi in an article from Harvard Business Review. Thomke and Manzi say experimentation will help determine what decisions are most likely to succeed.

They suggest asking a few questions to determine which experiments are worth the expense:

  • Does the experiment have a clear purpose?
  • Have stakeholders made a commitment to abide by the results?
  • Is the experiment doable?
  • How can we ensure reliable results?
  • Have we gotten the most value out of the experiment?

Using these questions can help navigate the highest possibility for success with the implementation of new ideas. 

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