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Click on the featured event (specifically the image) to open the toolbar.
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Click on the Personalization icon to view the personalization rules that are currently configured on this component.
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Shift between the variations to see the differences in content. You can edit the content, including text and images, directly in Experience Editor.
How the Rule is Built
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At the bottom of the list or on the personalization button in the floating toolbar, click on the "Edit Conditions" link.
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This will open a dialog to personalize the component. Click Edit Rule to see how the specific condition is configured.
The first personalization rule relates to a specific campaign, which can only be accessed via a specific campaign code (Boston Marathon Campaign Code: sc_camp=C0D46075D0B249AD866092B5E525D639). The second is triggered when a contact's skill level in Basketball is greater than 6 – this is the personalization rule that is triggered by moving the Basketball slider to "Expert."
Each version contains a mini-A/B test, one that will show you the Visits and Effect of each personalized version. "Visits" equals what percentage of people were shown the personalized version. "Effect" shows the increase/decrease in Engagement Value stemming from the personalized version.
Note that the personalization rules here only demonstrate a tiny portion of Sitecore's broad range of personalization options. The platform's mature rules engine can drive personalization based on business goals, IP information, profiling taxonomy, and other data.