SPB 4304 Lecture Notes - Lecture 1: Data Analysis, Branch Rickey, Retention Rate

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18 May 2017
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Department
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SPB 3930 H
Notes
Journal Article: The Introduction and Application of Sports Analytics in Professional
Sport Organizations
A Case Study of the Tampa Bay Lightning
Authors: Michael Mondello & Christopher Kamke
- Provides overview of analytics and how the Tampa Bay Lightning uses analytical
techniques into several business entities
CRM = Customer Relationship Management
Analytics are becoming more important in operating organizations
Analytics Adds Value
- Summarize data
- Interprets findings
- Utilizing findings to find patterns and forecast future tendencies
Can help with ticket pricing, customer service, game strategy and player personnel decisions
The NHL team, the Tampa Bay Lightning has successfully incorporated analytics within several
departments
Analytics can be classified as (Davenport & Harris 2007)
- Descriptive
- gathering and organizing of data and detailing the quantities of the data
- Provides no information on why
- Predictive
- Using previous data to assist with forecasting future trends
- Useful for predicting trends
- Does not give any cause/effect relationship
- Prescriptive
- Offers suggestions for implementing solutions to problems
3 Major Stages of Analytical Thinking (Davenport & Kim 2013)
- Framing the problem
- Problem recognition
- Reviewing previous findings
If problem is framed incorrectly, all subsequent analysis become less valuable
Uses hypothesis development within a given set of constraints
- Solving the problem
- Modeling
- Data collection
- Data analysis
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