What is a false positive? A false positive (Type 1 Error, False Positive Error) in AB testing indicates whether the difference between variations was due to the alterations or to other noise. A high confidence level helps to prevent these false positives. Industry standard is for a 95% confidence level, leaving a 5% chance that […]
What is growth hacking? The use of resource-light and cost effective marketing tactics to help grow and retain an active user base, sell products and gain exposure.
What is a hero image? In web design, a hero image is a large web banner image, prominently placed on a web page, generally in the front and center. The hero image is often the first visual a visitor encounters on the site; it presents an overview of the site’s most important content.
What is an hypothesis? The definition states an hypothesis to be a supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation. For conversion rate optimisation this is derived from collected data and forms the foundation of why changes are made. They are based on deduction and […]
What is a multivariate test (MVT)? A multivariate test is a technique for testing a hypothesis where multiple variables are modified, in order to determine the best combination of variations on those elements of a website or mobile app.
What is qualitative data? Qualitative data is gathered by interactions with real people/customers, often taking into account personal opinions, and is more subjective. Qualitative research can realise itself in many forms: In-depth interviews Group discussions (focus groups); Diary and journal exercises
What is quantitative data? Quantitative data is all about the numbers, here we use existing data or statistics to support or dismiss our hypothesis. Some examples of quantitative data include: Web Analytics Heatmaps NPS (Net Promoter Score) Data from surveys
What is ROI? Return on investment, or ROI, is a mathematical formula that investors can use to evaluate their investments and judge how well a particular investment has performed compared to others. An ROI calculation is sometimes used along with other approaches to develop a business case for a given proposal. The overall ROI for […]
What is sample size? Sample size measures the number of individual samples measured or observations used in a survey or experiment. For example, if you test 100 tyres for wear and tear, your sample size is 100. If an online survey returned 93,000 completed questionnaires, your sample size is 93,000.
What is a sample size calculator? A sample size calculator provides a visible method of computing the number of visitors required for a test to be statistically significant (e.g. the needed amount of visitors you need to assess that a lift/loss of x% can be trusted with 95% confidence).