The Power of Experiments
Decision-Making in a Data Driven World
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Narrated by:
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Timothy Andrés Pabon
About this listen
How organizations - including Google, StubHub, Airbnb, and Facebook - learn from experiments in a data-driven world.
Have you logged into Facebook recently? Searched for something on Google? Chosen a movie on Netflix? If so, you've probably been an unwitting participant in a variety of experiments - also known as randomized controlled trials - designed to test the impact of different online experiences. Once an esoteric tool for academic research, the randomized controlled trial has gone mainstream. No tech company worth its salt (or its share price) would dare make major changes to its platform without first running experiments to understand how they would influence user behavior. In this book, Michael Luca and Max Bazerman explain the importance of experiments for decision making in a data-driven world.
Luca and Bazerman describe the central role experiments play in the tech sector, drawing lessons and best practices from the experiences of such companies as StubHub, Alibaba, and Uber. Successful experiments can save companies money - eBay, for example, discovered how to cut $50 million from its yearly advertising budget - or bring to light something previously ignored, as when Airbnb was forced to confront rampant discrimination by its hosts. Moving beyond tech, Luca and Bazerman consider experimenting for the social good - different ways that govenments are using experiments to influence or "nudge" behavior ranging from voter apathy to school absenteeism. Experiments, they argue, are part of any leader's toolkit. With this book, readers can become part of “the experimental revolution."
©2020 Michael Luca and Max H. Bazerman (P)2020 Brilliance Publishing, Inc., all rights reserved.Listeners also enjoyed...
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Critic reviews
"In a forthcoming book, The Power of Experiments: Decision-Making in a Data-Driven World, Harvard professors Michael Luca and Max Bazerman show how such experiments have helped organizations from eBay to the U.K. tax authority make better decisions. By testing different strategies on a limited pool of unwitting customers before implementing them, they say, companies can eliminate guesswork and intuition and build products and processes “that better account for the many quirks of human behavior." (The Wall Street Journal)
Luca and Bazerman tell the fascinating story of the rise of experiments in the tech sector and beyond, and deliver a powerful message: experiments are transforming how businesses and governments make decisions. Going only by gut isn't enough - successful leaders need to move between data and decisions. (Charles Duhigg, author of The Power of Habit and Smarter Faster Better)
Luca and Bazerman's The Power of Experiments will open your eyes about how to distill information from data. (Alvin E. Roth, Craig and Susan McCaw Professor of Economics, Stanford University; recipient of the 2012 Nobel Memorial Prize in Economics)
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Story
Artificial intelligence is changing our world faster than we can imagine, and it will impact every area of our lives. And this is happening whether we like it or not. You might have heard that many jobs will be replaced by automation and robots, but did you also know that at the same time a huge number of new jobs will be created by AI? This book covers many fascinating and timely topics related to artificial intelligence, including: self-driving cars, robots, chatbots, and how AI will impact the job market, business processes, and entire industries, just to name a few.
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Completely useless
- By Joe V on 03-29-19
By: Lasse Rouhiainen
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Power and Prediction
- The Disruptive Economics of Artificial Intelligence
- By: Ajay Agrawal, Joshua Gans, Avi Goldfarb
- Narrated by: Tom Beyer
- Length: 10 hrs and 7 mins
- Unabridged
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In their bestselling first book, Prediction Machines, eminent economists Ajay Agrawal, Joshua Gans, and Avi Goldfarb explained the simple yet game-changing economics of AI. Now, in Power and Prediction, they go deeper, examining the most basic unit of analysis: the decision. The authors explain that the two key decision-making ingredients are prediction and judgment, and we perform both together in our minds, often without realizing it.
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Inspire system thinking with informative examples
- By Lucy A. Pithecus on 11-16-22
By: Ajay Agrawal, and others
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The Science of Growth
- How Facebook Beat Friendster - and How Nine Other Startups Left the Rest in the Dust
- By: Sean Ammirati, Richard Florida - foreword
- Narrated by: Fajer Al-Kaisi
- Length: 6 hrs and 57 mins
- Unabridged
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The lean entrepreneurship movement has captivated Silicon Valley and entrepreneurs across the country. It provided an agile framework to develop the right product solution for a given target market and is now used by almost every fledgling company to do just that. The next challenge is growth - to achieve the financial returns and, more importantly, the impact they dreamed of when starting off on their adventure.
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Awesome book
- By Josh on 04-29-16
By: Sean Ammirati, and others
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Designing for Growth
- A Design Thinking Tool Kit for Managers
- By: Jeanne Liedtka, Tim Ogilvie
- Narrated by: Nicol Zanzarella
- Length: 6 hrs and 35 mins
- Unabridged
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Jeanne Liedtka and Tim Ogilvie educate listeners on one of the hottest trends in business development: "design thinking", or the ability to turn abstract ideas into practical applications for maximal business growth. Jeanne Liedtka's recent book, The Catalyst: How YOU Can Lead Extraordinary Growth, was named a Top Innovation and Design Thinking Book by Business Week. Tim Ogilvie has been hailed as a visionary for his pioneering contributions to service innovation, business model innovation, and customer experience design.
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Audiobook requires regular book
- By GoingGoingGone... on 07-01-18
By: Jeanne Liedtka, and others
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Jobs to Be Done
- A Roadmap for Customer-Centered Innovation
- By: Stephen Wunker, David Farber, Jessica Wattman
- Narrated by: Tim Andres Pabon
- Length: 4 hrs and 52 mins
- Unabridged
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Jobs to Be Done gives you a clear-cut framework for thinking about your business, outlines a road map for discovering new markets, new products, and new services, and helps you generate creative opportunities to innovate your way to success.
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YouTube talks are better.
- By BizTech Readings on 12-27-16
By: Stephen Wunker, and others
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Data-ism
- The Revolution Transforming Decision Making, Consumer Behavior, and Almost Everything Else
- By: Steve Lohr
- Narrated by: Steve Lohr
- Length: 6 hrs and 33 mins
- Unabridged
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Coal, iron ore, and oil were the key productive assets that fueled the Industrial Revolution. Today data is the vital raw material of the information economy. The explosive abundance of this digital asset, more than doubling every two years, is creating a new world of opportunity and challenge. Data-ism is about this next phase, in which vast, Internet-scale data sets are used for discovery and prediction in virtually every field. It is a journey across this emerging world with people, illuminating narrative examples, and insights.
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More business case than serious analysis
- By Godfried Gubbels on 06-03-15
By: Steve Lohr
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Blind Spots
- Why We Fail to Do What’s Right and What to Do about It
- By: Max H. Bazerman, Ann E. Tenbrunsel
- Narrated by: Kate McQueen
- Length: 7 hrs and 18 mins
- Unabridged
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When confronted with an ethical dilemma, most of us like to think we would stand up for our principles. But we are not as ethical as we think we are. In Blind Spots, leading business ethicists Max Bazerman and Ann Tenbrunsel examine the ways we overestimate our ability to do what is right and how we act unethically without meaning to.
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Great book! Poor narration
- By Susie on 11-20-17
By: Max H. Bazerman, and others
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System Error
- Where Big Tech Went Wrong and How We Can Reboot
- By: Rob Reich, Mehran Sahami, Jeremy M. Weinstein
- Narrated by: Kaleo Griffith
- Length: 11 hrs and 28 mins
- Unabridged
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In no more than the blink of an eye, a naïve optimism about technology’s liberating potential has given way to a dystopian obsession with biased algorithms, surveillance capitalism, and job-displacing robots. System Error exposes the root of our current predicament - how big tech’s relentless focus on optimization is driving a future that reinforces discrimination, erodes privacy, displaces workers, and pollutes the information we get- and outlines steps we can take to change course, renew our democracy, and save ourselves.
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Excellent on tech. Weak on political speech.
- By Kindle Customer on 11-05-21
By: Rob Reich, and others
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Engine of Impact
- Essentials of Strategic Leadership in the Nonprofit Sector
- By: William F. Meehan III, Kim Starkey Jonker
- Narrated by: C. J. Lengua
- Length: 7 hrs and 32 mins
- Unabridged
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We are entering a new era - an era of impact. The largest intergenerational transfer of wealth in history will soon be underway, bringing with it the potential for huge increases in philanthropic funding. Engine of Impact shows how nonprofits can apply the principles of strategic leadership to attract greater financial support and leverage that funding to maximum effect.
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Must listen for all nonprofit leaders
- By Peter A. Mello on 02-09-19
By: William F. Meehan III, and others
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Born to Build
- How to Build a Thriving Startup, a Winning Team, New Customers and Your Best Life Imaginable
- By: Jim Clifton, Sangeeta Badal
- Narrated by: Braden Wright
- Length: 3 hrs and 47 mins
- Unabridged
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Written for anyone trying to figure out how to make the most of their lives, Born to Build seeks to inspire entrepreneurs and ambitious, self-motivated people to build something that will change the world. A builder’s venture could be a small business that grows into a mammoth enterprise, a thriving new division in an existing company, a nonprofit, a social enterprise, a church, a school - anything that creates economic growth and makes a lasting impact on society.
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Powerful perspective shift
- By Diana_loves_audiobooks on 06-09-18
By: Jim Clifton, and others
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Simple Rules
- How to Thrive in a Complex World
- By: Donald Sull, Kathleen M. Eisenhardt
- Narrated by: Jeff Cummings
- Length: 7 hrs and 54 mins
- Unabridged
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We struggle to manage complexity every day. We follow intricate diets to lose weight, juggle multiple remotes to operate our home entertainment systems, face proliferating data at the office, and hack through thickets of regulation at tax time. But complexity isn't destiny. Sull and Eisenhardt argue there's a better way: by developing a few simple yet effective rules, you can tackle even the most complex problems.
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If you are in any sort of leadership position or plan to be, read this book
- By Rex on 06-09-15
By: Donald Sull, and others
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Winning with Data
- Transform Your Culture, Empower Your People, and Shape the Future
- By: Tomasz Tunguz, Frank Bien
- Narrated by: James Patrick Cronin
- Length: 5 hrs and 37 mins
- Unabridged
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Winning with Data explores the cultural changes big data brings to business, and shows you how to adapt your organization to leverage data to maximum effect. Authors Tomasz Tunguz and Frank Bien draw on extensive background in big data, business intelligence, and business strategy to provide a blueprint for companies looking to move head-on into the data wave. Instrumentation is discussed in detail, but the core of the change is in the culture.
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Content marketing
- By Adam Winn on 12-22-16
By: Tomasz Tunguz, and others
What listeners say about The Power of Experiments
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- JM
- 05-12-21
Great motivation to experiment
Great encouragement to apply experiments in business and decisions in general. Engaging examples. Only missing 1 star since I don't remember much structured advice for how to apply an experimentation mindset, mostly structured stories.
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