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A retailer wants to test it's Discount Strategy; An online travel agency wants to encash on eyeballs using Web Analytics and sending instant campaign on the fly; An Airlines wants to optimize the Search Technology or reduce the shopping cart abandonment.

Much of what companies learn from mammoth experiments can be gleaned from smaller tests that involve fewer variables, saving resources for follow-up tests.
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OVER THE PAST DECADE, businesses have awakened to the power of analytics. Sophisticated CRM and Business Intelligence (BI) tools have given companies access to immense troves of data: According to one estimate, businesses collected more customer information in 2010 than in all prior years combined. This avalanche of data presents companies with big opportunities to increase profits — if they can find a way to use it effectively.

The reality is that most firms can't. Some companies try to put this data into experimentation by studying the historical transactions; using basic search techniques. This kind of "test and learn" approach cannot yield immediate and dramatic improvements in business augmentation.

Unlike analytics, experimentation is a skill that requires experience, and execution by Domain experts in Customer Experience. Admittedly, it can be hard to know where to start.

It’s All About Testing Customers’ Responses

It’s All About Testing Customers’ Responses

In some industries, experimentation is already a way of life. Capital One conducts tens of thousands of experiments each year to improve the way it acquires customers, maximizes their lifetime value and even terminates unprofitable ones. In doing so, Capital One has grown from a small division of Signet Bank to an independent company with a market capitalization of $19 billion.

We Think Like a Scientist

We Think Like a Scientist

Running a business experiment requires two things: a control group and a feedback mechanism.

At Virtuos our Consultants roll out tests of new offerings across the entire customer base by using powerful BI & Analytics tools and Feedback Systems. Our Customer Segmentation works on recency (how recently the customer visited website), frequency (how frequently the Customer purchased) and other customer touch points.

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