A/B split testing in sitecore without DMS

I would like to ask you is it possible to create A/B split test for some component in Sitecore.NET 7.2 (rev. 151021) without using DMS. I heard that is possible to activate only A/B split testing funcionality or am I wrong ? But I have no idea how is it possible. Appreciate any help or advice.

Thanks

Krp0