How To Guides
Lean Experiment Design

Practical Statistics - Rules of Thumb

Apply these practical rules of thumb when running experiments to avoid common biases in the data you use to make business decisions.

When to Use It

Use this sheet as a reference when you are running an innovation experiment and need to measure and report on the results with proper recognition of statistical factors.

Who Should Use It
Our Practical Statistics - Rules of Thumb guide is useful for anybody collecting and reporting quantitative data. Refer to this guide if you are running an experiment and asking questions like:
• What metrics should I measure?
• What size sample is appropriate?
• How can I minimize or remove bias from my sample size?
• What's the margin of error for this experiment?
• What's the confidence level of these results?
Best with Live Workshops >
Authors and Contributors
Tristan Kromer
Tristan Kromer works with innovation teams and leaders to create amazing products and build startup ecosystems. He has worked with companies from early stage startups with zero revenue to enterprise companies with >$1B USD revenue. (Unilever, Swisscom, Salesforce, Fujitsu, LinkedIn) Tristan has worked with over 17 technology accelerator programs and ecosystem programs such as Innovation Norway, Vinnova (Sweden), Enterprise Ireland, NEST’up (Belgium), StartSmart (Estonia) and the Innovation Partnership Program (Vietnam-Finland) With his remaining hours, Tristan volunteers his time with early stage startups and blogs at GrasshopperHerder.com.
Ask a question?

Related resources

Interested in the best innovative programs online?

Each program contains all the skills you need to make real progress and show real results. Whether you are part of an innovation team, you are coaching teams, or leading a business unit as an innovation leader, our programs will give you the skills to succeed.
Check out all programs
Get into new markets with new products.
Chat with our innovation experts.
I'd like to contact you to discuss...