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Business Experimentation

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How do analytics support business experimentation? Give an example of how a company might use business experimentation to create a new product or service.

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This solution explains how analytics can support business experimentation and provides an example of how a company has used business experimentation to create a new and successful product.

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504539-Business Experimentation
How do analytics support business experimentation? Give an example of how a company might use business experimentation to create a new product or service.

Analytics is the practice of using data, statistical and quantitative analysis, explanatory and predictive modeling and fact based management to assist in making business decisions. It is an iterative process which the business uses to analyze past business performance to discover new business opportunities.

From Business Analysis for Competitive Advantage

Analytics supports business experimentation in the ...

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