The Power of Experiments
Decision Making in a Data-Driven World
Summary:
The book explores the impact of data-driven decision-making in various sectors, emphasizing the role of experiments in understanding consumer behavior and improving business strategies. It provides insights into how companies like Google, eBay, and Amazon use controlled experiments to make evidence-based decisions, shaping products, policies, and innovation.
Key points:
1. Experimentation as a Decision-Making Tool: Luca and Bazerman stress the importance of using experiments, especially RCTs, to make data-driven decisions and establish cause-and-effect relationships.
Books similar to "The Power of Experiments":
Super Crunchers
Ian Ayres
Trustworthy Online Controlled Experiments
Ron Kohavi|Diane Tang|Ya Xu
Don't Trust Your Gut
Seth Stephens-Davidowitz
Testing Business Ideas
David J. Bland|Alexander Osterwalder
Framers
Kenneth Cukier|Viktor Mayer-Schönberger|Francis de Véricourt
Hard Facts, Dangerous Half-Truths, and Total Nonsense
Jeffrey Pfeffer|Robert I. Sutton
When to Rob a Bank
Steven D. Levitt|Stephen J. Dubner
Wharton on Making Decisions
Stephen J. Hoch
Think Like a Freak
Steven D. Levitt|Stephen J. Dubner
Judgment in Managerial Decision Making
Max H. Bazerman