SPB 4304 Lecture 1: SPB The Introduction and Application of Sports Analytics in Prof Sport Organizations Summary

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Sports Business
SPB 4304
Scott Bukstein

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 Ident
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