Assignment - Applying Experimentation to Your Business - The Iterative Process of Learning

1.Your business is financial services and you want to provide a payless cash app (mpayment) for customers

2.Answer the following questions:

1.What are your competitors?

2.What would be the value of your company to the customers? The value of the business to make the right decision to introduce the tools to its customers is important to go with the market trend and the competition. The costs of making the wrong decision, i.e. not introducing a tool or not a useful/easy-to-use tool may lead to losing customers to the competition already offering the tool to its customers.

3.What kind of experimentation (divergent or convergent) would you use considering the following questions:

Question 1: What kind of app, what kind of important features would customers want in an mpayment app?

Question 2: If the financial institution would develop its own mpayment app in accordance to those features, would customers actually accept and use it?

3. What other questions should the experimentation process consider?