By Ariel Garber
Analytics is useful in any profession, with the potential to increase efficiency, profitability and accuracy. From healthcare, to marketing, to even sports, analytics is becoming an essential tool in all fields. Here’s a sneak peak into how data affects more industries that you expect.
Technology is shaping a new health care economy, evident in the advances of mobile devices, cloud computing and analytics. “‘We need to empower consumers with the in-the-moment guidance they need,’” said Dennis Schmuland, MD, Microsoft’s chief health strategy officer, “adding that a key technological component of that on both sides of the patient-provider equation is health analytics, thus the need to ‘make analytics easy for everyone.’”
Social media and marketing analytics tools are also important as social media becomes essential in all fields. Research has shown that “the conversations your customers have among themselves drive about 13 percent of business decisions and can amplify your advertising by 15 percent.
Sports analytics are valuable to both consumers and professionals, for the way we consume sports industry through sports data is dependent upon analytics. “Sports analytics is not just a catch phrase, but an influential part of the future of sports,” said Bloomberg Sports, the leading global provider in data and analytics, “We believe sports analytics plays an integral role in the future of sport, both at a fan engagement and elite sport performance level.” Bloomberg Sports offers a variety of resources to both consumers and professionals. For professional purposes, they provide analytic tools for scouting, video analysis and “player-centric applications to assess performances and aid the preparation of upcoming games.” They also have created a predictive analytics program and use their own broadcast and TV stations to “translate analytics-rich content into broadcast tools used on-air to inform and educate viewers.” They also host their own website, StatsInsights.com, featuring analytics-rich sports articles.
Big data is becoming incorporated into all aspects of sports, from devices that can track pitches during the game, to wearable technology. Adidas’ miCoach system collects data from a device attached to the player’s jersey that shows the top performers and who is tired, as well as “real-time stats on each player, such as speed, heart rate and acceleration.” The data from these devices assists trainers, coaches, and physicians in planning better training and conditioning.
There is also a demand for data analytics specialists to translate the data from these devices in a coherent manner for the players and coaches. Moneyball, a 2003 book and 2011 movie featured the Oakland Athletics competitive baseball that utilized analytics in their data-driven strategies. This highlights a shift in sports from gut instincts to a reliance upon science. Analytics is “gaining recognition as a tried and true instrument for competitive advantage in countless industries.”
Brandeis Graduate Professional Studies offers a Strategic Analytics program that produces professionals who understand the strategic potential of big-data analytics and who can translate analysis into effective organizational decision-making, poised to lead today’s organizations to new standards of efficiency and competitiveness.
The day-long symposium will focus on promoting a discussion of the growing field of analytics and how organizations can leverage big data to make more strategic decisions. Panelists will engage in a conversation that places analytics in the context of big data, education, health, marketing and business.
Register here for the Analytics 360 Symposium on April 8, 2015 at Brandeis University. The cost for NERCOMP members is $135 and the cost for non-members is $265. Submit this form to learn more about special pricing available to members of the Brandeis community. For more information, email email@example.com or call 781-736-8786. You can also find us on Twitter using #GPSAnalytics.