Analytics and Data Science are increasingly a part of our lives, whether it be in our professional lives in the procurement world or as consumers and social media users. Many sports fans will know that data has been a part of professional sport for some time. Many of us have seen films like Moneyball or heard about football teams in Europe using solutions like Prozone.
The Philadelphia Eagles won their first ever Super Bowl last Sunday beating strong favourites New England Patriots in an amazing game. What is interesting whether you are a fan of the NFL or not, is how Philadelphia took the use of data to a new level in professional sport to understand where the true value lies in their strategy – something a lot of procurement, supply chain and data professionals can empathise with.
The Eagles coach made some bold tactical decisions at critical times that according to this article in The New York Times were backed by a coaching team that is “comfortable mining statistical analysis for advantages.”
Here’s an excerpt from the article
Analyzing every team’s risk-management style, EdjSports determined that Philadelphia optimizes decisions — on fourth down, especially — better than its peers by a substantial margin.
“The Eagles capture value at every turn,” said Tony DeFeo, the president of EdjSports, “because they understand where the value lies.”
What can procurement learn from this attitude to data and risk management?
Read more at: The New York Times Online