Wednesday, October 21, 2015

How to Maximize Business Profits

Many companies are using data analytics to cut costs, improve employee performance, and attract new customers. But, according to Fred Feinberg, "We don't have a data problem anymore. We have a 'too much data' problem. Data is not information. They key is, when information is coming in so fast you can't even store it for more than a few days, you have to decide what to retain."

Data analytics is becoming more important in sports. The Oakland Athletics, who usually have one of the lowest payrolls in baseball, use data analytics to try and find a player who can produce at a high-rate on the field at a bargain salary. The Houston Rockets use data analytics to compute the efficiency of two point shots, three point shots, and layups. Players who play more within the system see their earning potential increase. Tennis players use big data to streamline their on-court movements and identify weaknesses in their games.

 With data analytics becoming such a large part of sports business, my question is when acuqiring a player what should you look at more: performance, character, or how well the player fits in the system based on data analytics?

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