#randomized-controlled-trials

#randomized-controlled-trials

The number-one job of a marketer is to invest budget wisely to drive sales. That inherently requires accurately measuring the performance of that spending. Yet most advertisers still rely on flawed measurement methods that systematically overstate performance and misallocate resources. The measurement crisis Even the smallest Fortune 500 companies generate roughly $10 billion in revenue, meaning they likely spend at least $1 billion on advertising. Whether you're spending billions or mere millions, the stakes are too high to rely on half-measures when optimizing ROI.

Everyone employs bias-otherwise known as cognitive shortcuts-in their lives every day. Imagine you're scrolling through your social media feed and immediately dismiss a news article because it comes from a source you don't typically trust. Or maybe you're convinced your favorite restaurant is the best in town, remembering all the great meals you've eaten there while forgetting that mediocre dinner last month.

The basic idea behind this is that students can have either a "fixed mindset" about their abilities (thinking they are born with a certain level of intelligence which cannot be changed over the course of their life) or a "growth mindset" (thinking their intelligence can be improved by hard work). It is assumed that having a growth mindset has a positive effect on academic achievement.