It’s summer and that means that baseball season is in full swing. I don’t know about you, but nothing truly beats the feeling of spending a few hours in a stadium cheering for your favorite team – mine just happens to be the Cleveland Indians.
While I am a devoted fan and will support my team at nearly every opportunity (Go Tribe!), I must confess that there are days when, rather than have my heart broken by another loss, I opt to spend my time watching something a little more … encouraging. So, the other night I turned to the movie Moneyball for some baseball-themed comfort.
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Based on a true story, Moneyball follows Oakland A’s General Manager Billy Beane as he attempts to overcome multiple challenges in the hopes of taking his baseball team to the next level by leveraging cost effective measures to transform his team. I was particularly struck by the part when Billy, played by Brad Pitt, made a point to zero in on a single characteristic in the hopes of taking his team to the top – hitting. Moving forward with this strategy, Billy turned to data for answers.
Big Data, Business and Baseball
I’m willing to bet that almost everybody reading this post right now is at least somewhat familiar with the term “Big Data.” Some of us are generally aware of its role in business while others help facilitate the collection of data and are ultimately responsible for its collection and interpretation. Then there are others who are acutely aware of Big Data’s magnitude. These are the people who readily acknowledge how data is being used to track our buying behavior, monitor our interests and influence our interactions with others. Today, it is common practice to zero in on the details, which may have cost us our ability to see the forest through the trees – but at least we know that our trees look fabulous.
The Big Data concept is articulated in Moneyball. While most baseball teams devote countless hours to offensive and defensive strategies in an attempt to excel in all aspects of the game, The Oakland A’s ushered in a different type of strategy – one rooted in the power of optimizing a single data point – getting hits to get the team’s players on base.
Billy’s strategy can apply to your business success as well. For example, if you are able to focus on your business’s key driver while cutting out the aspects of your business that are holding you back (such as a poorly selling product, costly production or a minimal return on a particular investment) you can take the steps to increase your efficiency, company-wide value and ability to meet a growing demand. And consider watching Moneyball for inspiration – it sure beats tuning in to another lackluster performance by the Indians.
By Katie Snyder (Wooster Office)