“For every single pitch thrown in every game, we now know the location, acceleration, movement, velocity, and the axis of rotation of the ball. If you believe, as we do, that this data has predictive ability, then you’re in an arms race to learn it and take advantage of it..."
If you thought Moneyball was just a best-selling novel and a box-office hit, you are mistaken. In Houston, the Astros are leveraging any and all data they can get their hands for predictive analysis--and not just for the next game. As you can see in the line graphs below, the Astros used data to reduce current player costs in an effort to invest their money into developing players in the often overlooked farm system. While this article speaks specifically to player performance, the overarching principle--performance-based budgeting--can be used across all industries and organizations. Here's how.
“[Brett] Favre is remembered as the prototypical gunslinger quarterback: quick to pull the trigger on a throw, lots of big plays, but plenty of missteps too (he’s the career leader in both touchdowns and interceptions). Aberdeen’s Analytical Mind Map has discovered a similar breed of decision maker in the ranks of analytics users..."
It looks like being a quarterback vs. a successful executive is more luck of the draw than I had ever considered. Krensky's analysis is one I have never heard before, but it makes sense:
- Both must analyze the data in front of them to make critical split-second decisions.
- Both must have the confidence to act decisevly under pressure
- Both must be able to discern massive amounts of data
- Both can't live without Wrangler jeans
Okay, maybe not so much the last one, but you catch my drift.The foundation for such similar characteristics is proven in Aberdeen's recent report on the so-called Analytical Mind Map, which they derived from their previously conducted BI personality study. After you check of Aberdeen's Mind Map, I recommend checking out our analysis on how to take advantage of business analytics in your field, whatever variety it may be. You can find the free brief here.
3. CIOInsight, "Businesses Need Help With Data Analytics Tools," by Dennis McCafferty
"A clear majority of organizations want to move forward with data analytics initiatives. But they're stumbling out of the gate to do so..."
With so many business analytic tools available, you may think that implementing data analytics initiatives wouldn't be so difficult. however, what Dennis discovers is that finding the right tool is only a small first stumbling block--the big hurdle is acquiring the expertise to properly use to tool to analyze the data and gain insight.
I couldn't agree more.
