Sports data analytics is like a coach’s playbook. It provides insights into player performance, team tactics, and game strategies. Just as a coach studies an opponent’s strengths and weaknesses, data analysts use statistics to gain a competitive advantage. With the right data, a team can pivot its approach and play to its strengths. Sports data analytics is the modern-day playbook for success on the field. In his article at Knowledge at Wharton, Eric Bradlow discusses how sports data analytics enhances teams’ competitive advantage.
Sports Data Analytics: The Modern-Day Playbook for Success
Data and analytics are becoming increasingly important in sports for both teams and fans. The recent injury of Buffalo Bills player Damar Hamlin highlights the potential for real-time injury detection. The use of analytics in sports was discussed in a panel by Wharton marketing professor Eric Bradlow and FanDuel CEO Amy Howe. The sports industry must prioritize player and customer data security and privacy. Sports betting was legalized in 2018, and interest in analytics has grown since the release of the film “Moneyball.” Markets like the U.K., Ireland, and Australia have refined their models, Howe noted.
Analytics is not only helping managers assess player value but also improving athlete performance and customer experience. Data gathered from sensors can determine sleep patterns, which impact player performance. Analytics is vital to FanDuel’s sports betting platform, enabling real-time data and modeling. FanDuel’s parent company, Flutter Entertainment, has 1,000 data scientists, statisticians, and engineers in a risk and trading organization. Data helps them update their CRM strategy by identifying and mitigating problematic customer behaviors. Analytics also helps decide the right entry points into new markets and assess customer acquisition costs.
How Analytics Is Helping Athletes Optimize Performance
Data analytics is not just for sports teams. It is expanding to other settings, such as tracking athletes’ sleeping patterns, soccer data collection, and online ticket sales. FanDuel uses analytics to improve its business model, manage customer relationships, and evaluate new markets. They also use data science to identify risky behavior, flag problematic behaviors, and personalize the customer experience. They even used analytics to solve customer concerns about opening different accounts in different states.
Furthermore, the article discusses humans in sports and the future of sports data analytics.
To read the original article, click on https://knowledge.wharton.upenn.edu/article/how-analytics-can-boost-competitiveness-in-sports/