How does an experienced professional plan and execute a PPC A/B test?

PPC A/B testing, also known as PPC split testing or ad copy testing,  is the process of comparing two variants of an advertisement to determine which one results in the highest performance.  Testing ad copy is one of the simplest ways to improve the efficiency of PPC campaigns since the process uses data, and not opinions, to show which ad components perform best.   This is typically accomplished either by creating limited rotation of a variant of an existing ad copy, or creating two similar ads and running them in equal rotation.  Performance factors include click-through rate, conversions on target pages or apps, and/or financial gains.   Once statistical significance is achieved with a minimum of outside variables, the resulting data is analyzed, the losing ads deleted, and new candidates are introduced into the cycle of testing.