Power of Experiments - Decision Making in a Data-Driven World

"Whether or not we know it, we participate in hundreds of experiments a year. Every time you log onto Amazon, scroll through Netflix listings, or read a Facebook post, you are probably part of an experiment designed to help the platform learn more about how users interact with the site. Digital technology facilitates a culture of experimentation, which is why tech companies have been so active in experimentation. However, governments also experiment to learn more about how services can be improved. For example, in the UK, the Behavioral Insights Team sent out ten different versions of a letter to delinquent taxpayers to determine the most effective wording for getting people to actually pay. ("Nine out of ten people in the UK pay their tax on time. You are currently in the very small minority of people who have not paid us yet." proved to be the most effective.) This book explores the evolving role of experiments in corporate and government decision making. It recognizes that an experiment is simply a tool. An experiment can make us better or worse off, depending on who is running it, what their goals are, and what they mean when they say the experiment "worked." The authors of this book, both experts in behavioral science from Harvard Business School, are enthusiastic about the promise of experimental methods, while keenly aware of the potential pitfalls.