What are some of the latest tools and techniques for experimentation in your field or industry?

Experimenting help us to test our assumptions and hypotheses, reducing risk foster a culture of innovation and continuous improvement, help optimize process, maximize efficiency help understand customer preference, behavior and pinpoints. In Software services we use AI powered experimentation platform like Evolv and Split.io to use machine learning algorithms to automate experimentation process allow data analysis in real time. Using software such as CustomerXM help organization understand end to end customer journey Using DataRobot to analyze historic data to predict future outcomes identify trend and pattern, Using Agile experimentation framework like Spotify Squad model to collaborate quickly and accelerate innovation

Let's focus on experimentation from machine learning perspective. A critical component of finalizing algorithms and their hyperparameters is through experimentation. We run various experiments to decide the final algorithm, it's features, transformations and hyperparameters. Let's understand it better with an example. Suppose we add a new feature to the current algorithm with it's existing features and then see what is the performance with the change as compared to the performance without the change. If the performance with the change is providing higher performance consistently, then we move to the algorithm with the new feature. That's one experiment.

Experimentation serves as a structured approach to evaluating various iterations to determine optimal performance. Whether testing different website elements like headlines, images, or offers, experimentation enables insights into audience preferences, enhances user experience, and boosts ROI by identifying strategies that yield better outcomes.

Experimenting is critical in understanding the nature of the data, Experimentation can help one to find out what works best for your stakeholders, improve your user experience, and increase your return. In analytics, we have 4 kinds of experimental motos. To understand "What happened" is descriptive analytics, "Why something happened" is diagnostic analytics, "What is likely to happen" is predictive analytics, "What action to take to make it happen or avoid" is prescriptive analytics. Even we can find a better solution or optimize. One must consider the first step to experiment using the known techniques (if possible start simple) such that it's easy to interpret the experimental results. Experiments can lead us to unknown insights also.

In data science, key tools include advanced machine learning frameworks like TensorFlow and PyTorch for complex modeling, and Apache Spark for big data processing. Automated machine learning, notably AutoML, is gaining popularity for efficient model optimization. Cloud computing platforms such as AWS, Azure, and Google Cloud provide essential resources for large-scale data handling. Cutting-edge techniques like reinforcement learning and Generative Adversarial Networks (GANs) are pioneering new approaches in experimentation, enhancing the sophistication and accuracy of analyses.

Designing experiments involves defining research questions and hypotheses, selecting experimental designs, metrics, and sample sizes, and executing the experiment to collect data for analysis. This systematic approach ensures validity and reliability, leading to valuable insights for decision-making.

We decide the experiments on basis of business factors. Suppose we are forecasting revenue for a particular product category of our client. To keep it simple, let's assume we are using linear regression to forecast. We just come to know that a competitor has launched a new product line in the same category and are significantly marketing it. In this situation we will include revenue of this product category of competitor as a new feature. We take historical revenue of this competitor's product category (assuming it is readily available) and make an estimate of future revenue. If we skip this experiment, we can over forecast, as we will leave out impact of competitor's new product line launch on future revenue of client's product category.

1. Set your business question 2. Allocate your resources (people, time etc) to create a low effort first draft of your implementation 3. Implement 4. Evaluate 5. Iterate

An experiment design depends on the actual desirable end result. The goal of the experiment should be clear to all stakeholders - whether it is to remove user engagement roadblocks, or to implement changes gathered from users through surveys, or to introduce new browsing elements on the page, or to add/ change ad slots or dimensions, or to make page more accessibe of mobile device, etc. After this, the KPIs need to be clearly defined, followed by setting up of measurement for the same, like proper tracking codes, or events coding, or UTMs, etc. Then the target audience and control group needs to be carefully selected along with the test split. The duration of experiment is also important - less time or more time, both may ruin the result.

To design experiments for data journalism, define a clear research question and hypothesis, choose an appropriate experimental design, select relevant metrics to measure outcomes, calculate the necessary sample size for statistical significance, and then run the experiment and collect data. This systematic approach allows journalists to compare different versions of content, such as headlines or visuals, to determine which one performs better in terms of user engagement and effectiveness

Universities are increasingly leveraging AI to improve their website content and enhance the student experience. We're exploring two key avenues - employing AI-powered content writing tools and conducting A/B tests based on engagement and other relevant metrics. These tools assist in generating captivating and relevant content for websites, including blog posts, news articles, and social postings. This approach not only saves time and resources but also ensures that the content resonates with students and addresses their needs. Furthermore, tools like Knotch EQ can provide universities with valuable insights into brand awareness/sentiment while identifying gaps in their content library.

I am sharing my experience with respect to machine learning solution development. We use Databricks as our ML platform and run the experiments on it. The input, algorithm and output of each experiment is stored in Databricks along with dates. We have found Databricks useful as an ML platform including management of experiments. However these ML platforms are relatively recent, by that I mean that they are not decades old. Hence all the features haven't come across a wide variety of use cases. Hence, one will face issues with these ML platforms, and that's when they have to work with the support/design/development teams of these platforms to fix the issues.

Tableau and Power BI assist in uncovering hidden patterns during data exploration, while RapidMiner provides an integrated environment for tasks like data preparation, machine learning, and model deployment. These tools offer user-friendly features with drag-and-drop functionality for ease of use. For more complex experiments, Python is preferable, and for handling substantial datasets, RStudio is a suitable option. It's crucial to note that regardless of the tools chosen, the fundamental objective of experimentation in data analytics remains same.

Choosing the right tool for experimentation depends on your budget and needs. Google Optimize is free and works well with websites and apps, while Optimizely is a comprehensive paid option for various applications. Firebase, also free, specializes in mobile app development and testing. These tools allow you to test different versions and optimize your content or layout based on analytics and user behavior, helping you achieve better results.

My go-to tool in yesteryear was Google Optimize freemium. However, it ceased to be available as of Sep 30, 2023, leaving a big void in this space. My updated list now is as follows: 1. VWO (Visual website optimizer) - what I like about it is the dedicated support system and a customizable approach. 2. Hotjar - Its a great tools that has a free version that can easily be integrated and experimented with. 3. HubSpot - Great tool particularly designed for marketing. 4. Optimizely - the grand old reliable tool that's always on top recall of a seasoned Product expert. 5. Chartbeat's Headline testing tool - Great for testing various headlines in real-time, easy to use and updates the winning headline across all users automatically.

Let me elaborate on a Geo Match Testing (GMT). GMT is a statistical approach designed to assess the effectiveness of location-based advertising campaigns. This methodology employs look-alike models to create geo-pairs, comparing areas where a campaign was conducted to those where it wasn't. It utilizes statistical tests like covariance analysis, Chow tests, or differences of differences to compute the lift, quantifying the campaign's impact on metrics like sales or conversions in a specific geographic region. By comparing outcomes in the target area to a control group in a different location, GMT helps gauge the advertising effort's overall success and impact.

Bootstrapping is a powerful and widely used technique in statistics for estimating sampling distributions and making inferences. It's favored for its simplicity and versatility, providing robust estimates even with limited data. Other statistical techniques that are as effective as bootstrapping are cross-validation, and Monte-Carlo Simulation etc., Monte-Carlo Simulation excels in scenarios requiring the exploration of a wide range of possibilities or simulating intricate systems where deterministic modeling is impractical. These help in generating random samples, based on the problem we should be choosing them.

Some of the techniques for conducting experiments include: 1. Random selection - randomly selected samples, ensuring each member has equal chance of inclusion. 2. Random assignment - Sorting sample in different groups, randomly assigning experimental or control groups. This helps minimize bias. 3. Control groups - serves as baseline of the experiment, where subjects are outside the experiment treatment. Helps with setting baseline for the performance of the experiment. 4. Replication - its the repetition of the experiment on various groups. Like in Headline testing, the groups with non-performing headlines is dropped from the experiment and the same is replicated till the winning headline is decided and the experiment ends.

Randomized Controlled Trials (RCTs) Description: Participants are randomly assigned to either the treatment group or the control group. Use Case: Widely used in clinical trials and medical research to test the efficacy of new treatments. 2. A/B Testing Description: Compares two versions (A and B) to see which one performs better. Use Case: Common in marketing, web design, and user experience research to optimize elements like webpage layouts or email campaigns. 3. Multivariate Testing Description: Similar to A/B testing but tests multiple variables simultaneously to determine the best combination. Use Case: Used in complex optimization problems, such as determining the best combination of website elements.

In pharmaceutical research, advanced techniques refine experimentation for accuracy and innovation. Adaptive trials dynamically adjust based on interim data, optimizing resource use and patient safety. In silico modeling simulates biological processes, drastically reducing early-stage testing time. Multi-omics integration combines genomics, proteomics, and metabolomics to provide a comprehensive understanding of drug effects at molecular levels. Bayesian statistics allow continuous learning during trials, enhancing decision-making with real-time insights. Microdosing in human trials accelerates early safety assessments, minimizing risk while gathering valuable pharmacokinetic data. These methods push boundaries of precision and efficiency.

Experimentation in analytics faces challenges such as selecting appropriate metrics, avoiding biased results due to external factors, ensuring sufficient sample sizes for statistical significance, dealing with ethical considerations in experiments, managing concurrent tests to avoid interference, and interpreting inconclusive or contradictory outcomes. Additionally, organizations may struggle with implementing a robust experimentation culture, resource constraints, and the need for continuous optimization of experimental processes. Clear communication and addressing these challenges are crucial for deriving meaningful insights from experimentation in analytics.

Some challenges for experimentation include: 1. Inter-dependencies on technology teams to implement the codes for experimentation. 2. Cost in many cases is a challenge as free tools come with a lot of limitations. 3. Bias often is a challenge and can adversely affect the outcome of the experiment. 4. Complexity of the experiment can pose a challenge in terms of flashing original content, overwriting of original content, subjectivity of the content affected with variance in creating versions. 5. Pre-empting pitfalls in experiment due to end user behavior, technology, missing some attributes while selecting groups and samples, etc. 6. Requirement of strategic planning to avoid common mistakes to ensure the valid and reliable results.

Experimentation faces various challenges, including biased data, insufficient sample sizes, and external factors influencing results. Biased data can skew conclusions, leading to inaccurate insights. Limited sample sizes may hinder statistical significance, reducing the reliability of findings. External factors such as seasonality or market changes can confound results, making it challenging to isolate the impact of the experiment. Additionally, ethical considerations regarding data privacy and user consent must be addressed. Ensuring proper experimental design, rigorous data collection methods, and thorough analysis are essential to mitigate these challenges and derive meaningful insights from experiments.

Selection Bias Challenge: Non-representative samples can lead to skewed results. Solution: Use random sampling and random assignment to ensure a representative sample and minimize bias. Employ stratified sampling if specific subgroups need to be represented. 2. Confounding Variables Challenge: Variables other than the independent variable that may affect the dependent variable. Solution: Identify and control for confounding variables by using techniques like randomization, matching, or statistical controls. 3. Sample Size Challenge: Small sample sizes can lead to unreliable results and lack of statistical power. Solution: Conduct a power analysis to determine the appropriate sample size needed to detect meaningful effects.

To delve into experimentation in analytics, explore online courses on platforms like Coursera, edX, or LinkedIn Learning. Books such as "A/B Testing" by Ron Kohavi and "Experimentation Works" by Stefan Thomke provide in-depth insights. Engage with online communities like the Experimentation Culture Slack group, and practice with platforms like Google Optimize or Optimizely. Follow blogs from industry leaders such as Airbnb's Data Science and Engineering team or Netflix's TechBlog. Participate in webinars and conferences like the GrowthHackers Conference to learn from experts. Hands-on practice and continuous learning through these resources will deepen your understanding of experimentation in analytics.

Formal Education University Courses: Enroll in relevant courses in statistics, research methods, and experimental design. Statistics and Probability: Foundational courses in statistics. Research Methods: Courses focused on designing and conducting experiments. Subject-Specific Courses: Depending on your field, courses in psychology, biology, economics, etc. Online Courses and Certifications: Coursera: Offers courses such as "Design and Interpretation of Clinical Trials" by Johns Hopkins University, "A/B Testing for Business Analysts" by the University of Virginia, and various statistics courses. edX: Provides courses like "Introduction to Statistics" by MIT and "Data Science and Machine Learning Bootcamp" by Harvard.