What is the definition of Statistical Significance?
Statistically significant means that the best performing variation can be declared a winner and serve to all users going forward. For example, if two variations in our test yield approximately the same results, how different do you need them to be in order to choose one?
What do you need to reach statistical significance?
A/B testing is a marketing strategy where the marketer chooses one design variant to serve as “control” and splits the traffic randomly between that control and another variant. Upon reviewing the data, the A/B test engine reports if there is a statistically significant difference in performance or amount of information (generally, there must be at least 5% of a difference of performance in the results, in order to choose one.
Is Statistical significance important for A/B tests?
You should know that when you first select a variance, you are generalizing the data collected up to that point with respect to the entire population of potential visitors. This is a significant leap of faith and we have to do it carefully or else our long-term web page decisions will be misguided.