You can read the definition of multivariate testing (MVT) on Wikipedia.

Multivariate testing is based on mathematical and statistical principles. LiveBall is a full factorial multivariate platform, meaning that an experiment runs every possible combination and collects an equal amount of information about every recipe. 

In LiveBall, when working on any individual page of a Creative, you can set up a multivariate experiment on the elements of that page. From the Creative Management screen when publishing a Creative, just click on the small beaker icon in the page thumbnail. Or on the page editor of the actual page, click the MVT button along the top of the page.  

In the MVT editor you will be able to add and edit combinations of content to create multivariate experiments on your pages, preview all the combinations you create and launch the MVT experiment. The MVT editor also includes an experiment duration calculator so you can calculate an estimated duration for the test, based on the number of combinations you create. 

The LiveBall MVT feature is powerful and code-free. You can design and launch an MVT experiment in minutes without any coding or IT resources.