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News — experimentation

Fundamentals of Business Experimentation

Sarah Leslie design thinking experimentation innovation

Ideas that eventually reshape industries very often fly in the face of the collective wisdom and experience. In the absence of historical data to provide any comfort that value can be created from such ideas, it becomes vital for businesses to develop competency in experimentation. Eric Ries' Lean Startup methodology has much to teach businesses of any scale about the value applying a scientific approach to eliminate waste in the development of new offerings, and the use of an iterative, test and learn cycle to de-risk the innovation process. But before embarking on business experimentation, consider these key questions:  What is the purpose of the experiment? Will it definitively answer a question about a specific course of action under consideration? Is there...

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