Yesterday was the best day your company has ever had. Sales flooded your website and you earned 300% more than you earned during any other day this year. Novices see a bump in profits like that and head out to smoke cigars while bragging about their success. Fools assume that it’s the start of a magical trend, which will build on itself without any additional effort. Real business owners are the ones who are smart enough to ask what happened so they can find ways to learn from the data to steer their business in the best direction moving forward. That is the heart of multivariate testing.
“When you are able to isolate a single variable, testing can be simplified down to the AB test level” said Joey Gabra of Khepri.tech. “However, in almost all businesses, there are many variables affecting your sales funnel at the same time – and each of those variables may have several different possibilities that are plausible choices for you to pursue. Color schemes, word choices, translations, layouts, price points, traffic sources, the list of variants goes on and on, so getting real answers as to what is causing you to succeed or fail in real time requires rock solid Multi Variant analysis.”
There are several different ways to experiment with data from your site by setting up incremental changes and displaying them to consumers intermittently. One version of your site might have a black background and a dark color theme while another version might be much brighter and lighter. Running those versions at the same time and showing each to a percentage of your audience will allow you to see whether your visitors prefer one or the other, or to see if they have no preference. That’s a simple AB Test. With multivariate testing you can introduce many variables at the same time and speed up the experiments considerably, but the data you gain becomes much more complex and that’s why dynamic algorithmic analysis is an essential part of any Multi variant testing approach.
In fact, setting up the multi-variant tests and gathering the data was always the easy part. Sifting through the results to find actionable information fast enough to put it to use before it becomes stale is the true challenge. With the advance machine learning, and the proprietary Khepri algorithm that powers Khepri.tech, clients can pull data dynamically from their multi variant test results to run it through the Khepri API and get answers along with key performance indicators in the easiest most efficient and effective way ever.
With your own multi variant tests and Khepri analysis, your best day ever becomes easier to replicate, and as your knowledge base grows so does your moving average, which often becomes the difference between having a great day, and having a great business!