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Scaling Experimentation at American Express with Amit Mondal, VP & Head of Digital Analytics & Experimentation at American Express

Adel and Amit explore the importance of experimentation at American Express, the pillars that feed into a culture of experimentation, frameworks for building successful experiments, robust experiment design and much more.
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Amit Mondal

Гость

Amit Mondal

Amit Mondal is the VP & Head of Digital Analytics & Experimentation at American Express. Throughout his career Amit has been a financial services leader in digital, analytics/data science and risk management, driving digital strategies and investments, while creating a data driven & experimentation first culture for Amex. Amit currently leads a global team of 200+ Data Scientists, Statisticians, Experimenters, Analysts, and Data experts.

Adel Nehme

Ведущий

Adel Nehme

Adel is a Data Science educator, speaker, and VP of Media at DataCamp. Adel has released various courses and live training on data analysis, machine learning, and data engineering. He is passionate about spreading data skills and data literacy throughout organizations and the intersection of technology and society. He has an MSc in Data Science and Business Analytics. In his free time, you can find him hanging out with his cat Louis.

Key Quotes

We are in the golden age of experimentation, especially in the digital ecosystem. Many things are going to change, but the ability and willingness of businesses to adopt experimentation, run experimentation, and deliver results, I think that's just going to keep improving over time.

Customer reaction functions have become highly nonlinear in today's world. Think of random things going viral. Similarly, companies need to test a lot of different ideas. Some of them will succeed, many will not. But there is no way of predicting success ahead of time. Even the best -placed intuition is going to go wrong. So the only way companies can get to this level of success that they want and desire would be to expose ideas in front of customers, let customers adopt those ideas, let ideas find the right product market fit, and voila, that will be success for companies. And therefore, in today's world, you really need to experiment and experiment hard.

Key Takeaways

  1. Successful experimentation requires collaboration across product, technology, design, analytics, marketing, and legal teams to ensure comprehensive and effective results.

  2. Explore the use of large language models (LLMs) for qualitative data gathering and customer feedback to enhance the depth and scope of your experimentation insights.

  3. With the decline of third-party cookies, use marketing mix models and geo-based experimentation to measure the impact of your media strategies and understand customer responses.

Транскрипт

Adel Nehme: Amit Mondal, it's great to have you on the show.

Amit Mondal: Thank you, Adel. Really excited to be here.

Adel Nehme: You are the VP and Head of Digital Analytics and Experimentation at American Express. So maybe let's set the stage for our discussion. Let's start with the fundamentals. Why is experimentation so important today in any, modern organization? And how does it drive innovation? value. And I'd love if you can maybe anchor in a couple of explanations as well.

Amit Mondal: in today's business world, it's become increasingly important for companies to scale ideas quickly, find the right ideas. and make sure that they get in front of customers for their feedback as soon as possible. And the only robust way to do that is through a experimentation program. There is one more critical reason.

Customer reaction functions have become highly non linear in today's world. Think of random things going viral. Similarly, companies need to test a lot of different ideas Some of them will succeed, many will not, but there is no way of predicting success ahead of time. Even the best placed intuition is going to go wrong.

So the only way companies can get to this level of success that they want and desire would be to expose ideas in front of customers, let customers adopt those ideas, let ideas find the right product market fit, and voila, that will be success for companies. And therefore, in today's world, you really need to experiment and experiment hard.

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