EXE CU TIVE E D G E
How savvy execs
make the most of
data analytics
BY PATRICK TAYLOR
W
hen it comes to analytics, organizations can use data insights on a strategic as well
as an operational level. The
2011 film “Moneyball,” based on the bestselling book by Michael Lewis, tells the story of how Major League Baseball’s Oakland
Athletics, on a limited budget, compiled an
outstanding team of players using deep data
analysis to drive their team-building strategy. The team then furthered their use of
data to make day-to-day playing decisions
based on analytic insights. This combination of strategic and operational analysis
led the A’s to an outstanding performance
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– making the MLB playoffs and nearly beating the Yankees – with one of the lowest
payrolls in baseball.
Many businesses face the daunting
challenge of building analytics programs
within their organizations, yet become so
wrapped up with the system and technology that they fail to realize the full value of
the insights. Some kick-start the process
focused entirely on the strategic value of
the data. Others implement analytics on the
operational side, using it to flag exceptions
or identify anomalies in the way processes
are followed, but never use the data to reveal massive, game-changing findings. The
W W W. I N F O R M S . O R G