5 Best Practices Organizations Can Learn From Analytics In Sports

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Information about 5 Best Practices Organizations Can Learn From Analytics In Sports
Business & Mgmt

Published on February 4, 2014

Author: dellenterprise

Source: slideshare.net


Many business make decisions based on single points of data, or even no data at all. By taking a deeper look at all points of data, we can make much better informed choices to drive key business decisions.

Best Practices Organizations Can Learn from Analytics in Sports The use of modern data analytics is radically changing the way sports teams are managed. Here are five best practices your business should be emulating. 01 Make Predictions Why Derek Jeter Should be Benched Conventional Wisdom Suggests: A legend with 3,316 hits and 5 championship rings, Derek Jeter is surely more valuable than Eduardo Nunez, his unknown backup. Analytics Reveal: ZiPS projections indicate that Nunez will actually deliver more Wins Above 0.5 Eduardo Nunez 0.4 Derek Jeter Replacement (WAR) in 2014 (0.5 vs. 0.4) than the great Jeter. How Your Business Can Benefit 02 Use modern predictive analytics to make decisions based not just on what’s happened in the past, but on what’s likely to happen in the future. Use All Data Why Kobe Bryant’s Scoring Masks True Efficiency Conventional Wisdom Suggests: Kobe Bryant ranked 2nd in the league in points scored and 3rd in points-per-game in 2013. Analytics Reveal: Based on his player efficiency rating (PER), Kobe ranked as just the 10th most efficient player in the league in 2013. 6 3 Lebron 35 James Chris Paul Kevin Durant 3 11 Brook Lopez 7 Carmelo Anthony 21 Dwayne Wade Tim Duncan Don’t make decisions based only on individual pieces of data. Connect to and consider all your data when making evaluations about a given program’s efficiency and effectiveness. 03 9 0 24 Tony Parker Russell Westbrook Kobe Bryant How Your Business Can Benefit Blend the Old and the New Why Football Teams Should (Almost) Never Punt Conventional Wisdom Suggests: Except in rare circumstances, football teams should punt on 4th down. Analytics Reveal: Combining 12 years of historical performance data with modern predictive analytics shows that punting on 4th down makes statistical sense only 45% of the time. Teams currently punt closer to 65% of the time, far more often than they should. 45% 65% EFFECTIVE How Your Business Can Benefit 04 NOT EFFECTIVE Using historical data to gain insight into past trends while also leveraging modern analytics to formulate a prediction of future performance can lead to smarter, more informed decisions in the here and now. Consider Context Why the U.S. & Canada Purposely Didn’t Choose the Best Players for their Olympic Teams Conventional Wisdom Suggests: In order to put together the best possible Olympic hockey team, simply choose the best 25 players. Analytics Reveal: Olympic nuances such as rink size (international ice rinks are 10’ longer and 13’ wider than North American rinks) and compressed schedule (12 days from start to finish) caused GMs to consider contextual factors such as speed and player familiarity over typical performance metrics. 85’ 98’ 200’ 210’ Understand the context of your data so that decisions aren’t made in a vacuum. Use sentiment analysis to understand the human emotions behind contextual data and gain a better understating of how customers feel about your company. 05 NHL RINK INTERNATIONAL RINK How Your Business Can Benefit Value Data Over Intuition Why David Beckham’s Teams Were Better Off Without Him Conventional Wisdom Suggests: With 92 goals in his decorated career, David Beckham was a valuable asset to every team he played on. Analytics Reveal: Based on Goal Differential (GD), Beckham’s teams actually performed better without him in the lineup, most notably Manchester United, whose goal differential dropped by nearly half a goal when Beckham played versus when he didn’t. GOAL DIFFERENTIAL DIFFERENCE How Your Business Can Benefit Don’t assume the obvious to always be true. Rather than relying on intuition, make data the driving force behind key business decisions. In sports, as in business, the lure of analytics lies in helping leaders make the best decision possible. Those that make data-driven decisions grounded in analytics will make that best decision more often than not. Sources: http://www.newsday.com/sports/baseball/on-base-perception-1.3631854/derek-jeter-less-valuable-than-eduardo-nunezprojections-say-1.6634605 http://www.nytimes.com/newsgraphics/2013/11/28/fourth-downs/post.html http://www.bsports.com/statsinsights/football/how-good-was-david-beckham http://sports.yahoo.com/news/2014-winter-olympics-olympic-hockey-rules-versus-nhl-215200415.html http://www.basketball-reference.com/leaders/per_top_10.html

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