A/B testing is the statistical hypothesis testing for a randomized experiment with two variables A and B. Also known as the split testing, it is an analytical method that estimates population parameters based on sample statistics. This test compares two web pages by showing two variants A and B, to a similar number of visitors, and the variant which gives better conversion rate wins.
The goal of A/B Testing is to identify if there are any changes to the web page. For example, if you have a banner ad on which you have spent an ample amount of money. Then, you can find out the return of investment i.e. the click rate through the banner ad.
