​Experiments for Business Decisions
| Start Date: | Nov 14, 2022 | End Date: | Nov 18, 2022 |
| Last Date for Application: | November 4, 2022 | Last Date for Early Bird: | October 31, 2022 |
| Programme Fee: |
126000 INR Plus, GST |
Early Bird Fee: |
117180 INR Plus, GST |
“Intuition, experience, and big data alone don't work. What does? Running disciplined business experiments.”
-- Stefan Thomke
Why Experiments?
Experiments improve decisions
The last couple of decades have seen phenomenal growth in the use of experiments in business decision-making. Hundreds of small to large scale experiments are continuously being conducted by social networking companies like Facebook, transportation network companies like Uber, retail giants like Walmart, car manufacturers like Toyota, financial service providers like Capital One, technology companies like Apple, etc. for making critical business decisions. Experimental approaches are helping companies across sectors and geographies to find effective and efficient strategies for improving their products and services.
Experiments drive innovation
Organizations use experimental results for improving the quality of online social interactions, developing new pricing and operational strategies, enhancing physical and online retail experiences, attracting more customers, improving performance of products, and so on. Experiments are gradually becoming principal tools for prudent decision-making that promote business value and growth.
Why this programme?
The “Experiments for Business Decisions” programme will help businesses to make rigorous evidence-based decisions based on experiments, instead of relying solely on “gut feel” or “common sense,” or predictions from past trends.
The goal of this programme is to encourage organizations to develop an experimental mind-set and adopt systematic “test and learn” approaches for drawing the right conclusions.
The programme will impart critical skills for the design of experiments, their analysis, and the interpretation of results. Learnings from this programme will be relevant for marketing strategy to human resource management, from business policy to production and operations planning, and from pricing to product design.
For more information or any questions, contact Suman Verma: suman-exed@iima.ac.in | +91 92277 93191
- Evaluate when and where experiments can be useful
- Design experiments: Conceptualization, approach/methods, implementation
- Make sense of experimental data
- Use experimental findings for making decisions
- Recognise the advantages and limitations of experiments
- Hands-on training
- Problem solving workshop
- Group discussions
- Cases
- Lectures
1. Experimental frameworks for decision-making:
- Field experiments (randomized controlled trials) for testing new ideas and strategies
- Quasi-experimental methods for evaluating past initiatives
2. Application of experiments in various disciplines such as:
- Marketing and advertising
- Information systems and online platforms
- Strategy and operations
- Human resource management
- Finance
- Other relevant domains
3. Instructor guided hands-on training on experiment design and analysis
4. Participant led workshop on real-world problem solving using experiments
Individuals in a decision-making role in organizations across industry sectors, and entrepreneurs in any space. For example:
- Business owners across industry sectors and domains
- Mid- to senior-level professionals in any industry sector managing their own teams
- Persons in charge of organizational policy-making and planning
- Individuals who conceptualize and implement innovative services, products or practices
- Online platform managers, designers, and analysts
- Marketing professionals who design and run online and offline campaigns
- Entrepreneurs in any sector/domain
