Abstract:Many businesses conduct experiments to scientifically test, measure, and optimize decisions in areas like sales, marketing, and operations efficiency. While randomized controlled trials (RCTs) or A/B tests are the dominant method for conducting business experiments especially for business-to-consumer marketing, adaptive designs have yet to make extensive inroads outside of the pharmaceutical and medical industries. In this study, we aim to raise awareness of the applicability and advantages of multi-arm multi-… Show more
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