A gut feeling no longer needs to be at the forefront of decision-making in sports. Data analytics empowers organizations with supporting numbers that can back up every move to make informed business decisions. In this post, I’ll dive into data analytics and its future in sports.
The Rise of Data in Sports
Data analytics has spread across nearly every industry and sports is no exception, dating back to the 20th century. In baseball basic stats were taken and transcended into other sports following suit. Pioneers like Bill James and Red Auerbach dove deeper into numbers and insights finding data that was previously hidden. An event that shaped the future of data analytics in sports came from the Oakland Athletics in the early 2000s. The GM and statistician from the team developed a plan that focused on metrics instead of traditional methods. Their discovery shaped how teams make decisions and led to more analytical thinking throughout the world.
Impacts
In today’s digital age, fan engagement is essential for a sports organization’s success. Fans want a tailored experience that meets their needs. Data analytics can help teams connect with their fans on a deeper level looking at interactions and behaviors on social media. For example, marketing teams can look at data to know what kind of content their fans want to see that will resonate with them.
Data has the biggest impact on business operations. Stadium operations can be maximized by implementing pricing models for all business aspects on gameday. Ticket prices can fluctuate based on demand, game importance, and weather implications. Using models allows teams to make the most revenue while keeping fans satisfied. Data also improves other parts of operations such as security and concessions. Staff and security can be positioned in areas with heavy foot traffic and resources can be allocated where needed.
Conclusion
In the business of sports, analytics are changing how organizations are able to build better fan connections and operations. From tailoring to meet their fans’ needs, to when they should schedule content for the best results. Business operations are being revolutionized as data allows teams to maximize their revenue based on their insights. As data continues to evolve, organizations also need to have a competitive advantage.
Leave a Reply