fellow marketers! Ever heard of multi-armed bandit testing? It's a hot topic in the world of CRO and it seems to be this faster, more profitable version of good ol’ ABtesting. But before you jump on board, let me share some thoughts… So here goes: Multi armed bandit (MAB) is all about exploring different options simultaneously while minimizing the regret of not choosing an optimal choice earlier than necessary - clever right? It's great for situations where we have multiple variants to test and want quicker results with potentially higher returns. But hold up, don’t ditch A/B testing just yet! MAB might be more effective when you need speed or resources are limited but it can get complex real fast Now the question is: When should we use which? Well that depends on your specific situation and objectives. If time's of essence, go for multi-armed bandit testing! But if accuracy matters most (like when you need to make a long term decision), stick with A/B tests Either way though, keep experimenting my friends - happy optimizing! What do y’all think? Have any of ya used MAB before and seen some impressive results? Let me know in the comments below!
Source:
https://www.crazyegg.com/blog/multi-armed-bandit-vs-ab-testing/