Finding Small Changes that Have a Large Impact
Using insights from economics and psychology, we identify systematic patterns in behavior that are impacting your business goals.
Our in-depth assessment of your business challenge allows us to pinpoint the most important behavioral considerations that impact your how your customers respond to different interventions.
We leverage those insights and test changes to strategy with intelligently designed, targeted experiments. These experiments uncover practical solutions based on concrete evidence and causal relationships.
Our empirical tools use guided data, testing the causal relationship between a change in strategy and a response in behavior, giving companies an accurate measure of impact.
Over the last couple of decades, behavioral economists have used simple economics and psychology tools to give organizations a clear strategic advantage.
Our approach to solving challenges is different than traditional methods. Companies have long made decisions based on intuition and hunches. Some take their decision process a step further and employ traditional market research tools: surveys, focus groups, conjoint analysis, and so forth. These tools can be valuable, but numerous challenges are associated with predicting market reaction to changes. Research has shown that imagining consumers’ thought processes and reactions is difficult.
We know that in many instances, running an experiment is the most accurate, simple, and often cheapest way to know how to approach a challenge, whether it is the pricing, presentation, or promotion of a product. When designed properly, business experiments provide an unbiased snapshot of the causal relationship between a change in strategy and a response in consumers’, employees’, or other stakeholders’ behavior. These small-scale experiments can reveal the small changes that have a large impact on your goals.