32: Data Gathering and Verification with AB Testing

How To Succeed In Product Management | Jeffrey Shulman, Red Russak & Soumeya Benghanem

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2y ago 1:01:56

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In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board member Soumeya Benghanem welcome Ron Berman (Marketing Professor at Wharton) to talk about experimentation. Since data is one of the most valuable components to all product development, is it right to say that AB testing is the ultimate go-to experiment method? Or will it depend on the availability of samples and the number of experiments your team is willing to test? Tune in to find out!

Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.

What to Listen For:

00:00 Intro
05:06 Is AB Testing the best experimentation process?
08:48 Run the test, design two versions, check the conversion rate
12:38 If you change something very small, the effect is not very large
22:34 We need to think of good things to experiment with
30:34 When the result is indisputable and when it becomes inconclusive
34:50 Running multiple versions of an experiment
42:02 Conducting a test with very small samples
46:21 AB test is just one method of quantitative experimentation
56:34 Let data drive in making critical decisions