With more data available than ever before, are companies making softer decisions? - TechCrunch
In December 2014 I wrote a post titled Finding great wisdom that can't be found in big data. We have made great strides since then in storing, processing, and manipulating large volumes of data in a digital context, but people still have a problem when it comes to finding nuggets. reliably relevant that improves business outcomes. I am looking again at the idea of how far we have come and how far we still have to go.
Baseball is one of the best examples of how data affects business. The book and film “Moneyball” showed how GM Oakland Athletics, Billy Beane, changed the sport by incorporating advanced statistical analysis instead of relying solely on reports from human scouts. Today, football is governed by analysts as well as experienced football professionals - but could it be too much data?
Alex Spier wrote in a recent Boston Globe column Sunday Baseball Notes that Boston Red Sox manager Alex Cora has 11 coaches this year for 26 players. Compare that to Terry Francona in 2011, who had six for 25, and you can see that the number has almost doubled.
Spier is partly influenced by the amount of data that teams collect, which requires more people to view, interpret, and implement a plan for leverage. As Spier wrote, “The result? Several teams are now featuring three attractive coaches, and the staff is growing in efforts to pull the mountains of information into an edible format for the 26 players on schedule. "
"Beginners who research and draw ideas from fast data have attracted a great deal of interest from public and private market investors." Deepak Jeevankumer
Baseball is like a lab for advanced statistical analysis, and businesses could learn a lot from looking at how the sport handles data expansion.
Companies swallow data into data pools, use machine learning models, and use this information to make decisions, but every day they have basic decisions that make into their ever-growing mountain of information. Yes, tools and software can help solve it - in fact, they are getting better at it - but anyone who has ever dealt with bad advertising or email marketing knows that there is a lot of work to be done. to do.
Deepak Jeevankumer, managing director at Dell Technologies Capital, says the difference in play now compared to 2014 is that companies are now focused on gaining insight for those who need it faster. "Big Data has become more relevant than 'fast data'. E-commerce buyers, streaming media users, gamers, stock / crypto traders and venture marketers want fast insights and quick experiences, ”Jeevankumer told me.
He believes that data needs to be analyzed at its source as it flows, and in real time after a query is created, and that startups create solutions that allow companies (and basketball teams) ) make this more successful in the long run.