Multivariate testing (MVT) simultaneously tests multiple page elements and their combinations to identify which combination drives the highest conversion rate. Unlike A/B testing (control vs. one variant), MVT sets up a factorial experiment where each element has 2-4 variations, creating 8-100+ versions running in parallel. Example: Testing button color (3 options) × headline (2 options) × hero image (3 options) generates 3 × 2 × 3 = 18 variations. Visitors are randomly assigned to one variation, and conversion data is collected for each combination. Statistical analysis reveals which combination performs best and whether elements interact.