Multi - Armed Bandits
Multi-armed bandits: how to take your randomized experiment and make it harder better faster stronger. Basically, a multi-armed bandit experiment allows you to optimize for both learning and making use of your knowledge at the same time. It's what the pros (like Google Analytics) use, and it's got a great name, so... winner! Relevant link: https://support.google.com/analytics/answer/2844870?hl=en