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jerryking : moneyball   23

The Mystery of the Miserable Employees: How to Win in the Winner-Take-All Economy -
June 15, 2019 | The New York Times | By Neil Irwin.
Neil Irwin is a senior economics correspondent for The Upshot. He is the author of “How to Win in a Winner-Take-All-World,” a guide to navigating a career in the modern economy.......
What Mr. Ostrum and the analytics team did wasn’t a one-time dive into the numbers. It was part of a continuing process, a way of thinking that enabled them to change and adapt along with the business environment. The key is to listen to what data has to say — and develop the openness and interpretive skills to understand what it is telling us.......Neil Irwin was at Microsoft’s headquarters researching a book that aims to answer one simple question: How can a person design a thriving career today? The old advice (show up early, work hard) is no longer enough....In nearly every sector of the economy, people who seek well-paying, professional-track success face the same set of challenges: the rise of a handful of dominant “superstar” firms; a digital reinvention of business models; and a rapidly changing understanding about loyalty in the employer-employee relationship. It’s true in manufacturing and retail, in banking and law, in health care and education — and certainly in tech......superstar companies — and the smaller firms seeking to upend them — are where pragmatic capitalists can best develop their abilities and be well compensated for them over a long and durable career.....the obvious disadvantages of bureaucracy have been outweighed by some not-so-obvious advantages of scale......the ability to collect and analyze vast amounts of data about how people work, and what makes a manager effective (jk: organizing data) .... is essential for even those who aren’t managers of huge organizations, but are just trying to make themselves more valuable players on their own corporate team.......inside Microsoft’s human resources division, a former actuary named Dawn Klinghoffer ....was trying to figure out if the company could use data about its employees — which ones thrived, which ones quit, and the differences between those groups — to operate better......Klinghoffer was frustrated that ....insights came mostly from looking through survey results. She was convinced she could take the analytical approach further. After all, Microsoft was one of the biggest makers of email and calendar software — programs that produce a “digital exhaust” of metadata about how employees use their time. In September 2015, she advised Microsoft on the acquisition of a Seattle start-up, VoloMetrix, that could help it identify and act on the patterns in that vapor......One of VoloMetrix's foundational data sets, for example, was private emails sent by top Enron executives before the company’s 2001 collapse — a rich look at how an organization’s elite behave when they don’t think anyone is watching.
analytics  books  data  datasets  data_driven  exhaust_data  Fitbit  gut_feelings  human_resources  interpretative  Managing_Your_Career  massive_data_sets  meetings  metadata  Microsoft  Moneyball  organizational_analytics  organizing_data  people_analytics  quantitative  quantified_self  superstars  unhappiness  VoloMetrix  winner-take-all  work_life_balance 
june 2019 by jerryking
Big data: legal firms play ‘Moneyball’
February 6, 2019 | Financial Times | Barney Thompson.

Is the hunt for data-driven justice a gimmick or a powerful tool to give lawyers an advantage and predict court outcomes?

In Philip K Dick’s short story The Minority Report, a trio of “precogs” plugged into a machine are used to foretell all crimes so potential felons could be arrested before they were able to strike. In real life, a growing number of legal experts and computer scientists are developing tools they believe will give lawyers an edge in lawsuits and trials. 

Having made an impact in patent cases these legal analytics companies are now expanding into a broad range of areas of commercial law. This is not about replacing judges,” says Daniel Lewis, co-founder of Ravel Law, a San Francisco lawtech company that built the database of judicial behaviour. “It is about showing how they make decisions, what they find persuasive and the patterns of how they rule.” 
analytics  data_driven  judges  law  law_firms  lawtech  lawyers  Lex_Machina  massive_data_sets  Moneyball  predictive_modeling  quantitative  tools 
february 2019 by jerryking
Music’s ‘Moneyball’ moment: why data is the new talent scout | Financial Times
JULY 5, 2018 | FT | Michael Hann.

The music industry loves to self-mythologise. It especially loves to mythologise about taking young scrappers from the streets and turning them into stars. It celebrates the men and women — but usually the men — with “golden ears” almost as much as the people making the music....A&R, or “artists and repertoire”, are the people who look for new talent, convince that talent to sign to the record label and then nurture it: advising on songs, on producers, on how to go about the job of being a pop star. It’s the R&D arm of the music industry......What the music business doesn’t like to shout about is how inefficient its R&D process is. The annual global spend on A&R is $2.8bn....and all that buys is the probability of failure: “Some labels estimate the ratio of commercial success to failure as 1 in 4; others consider the chances to be much lower — less than 1 in 10,” observes its 2017 report. Or as Mixmag magazine’s columnist The Secret DJ put it: “Major labels call themselves a business but are insanely unprofitable, utterly uncertain, totally rudderless and completely ignorant.”......The rise of digital music brought with it a huge amount of data which, industry executives realized, could be turned to their advantage. ....“All our business units must now leverage data and analytics in innovative ways to dig deeper than ever for new talent. The modern day talent-spotter must have both an artistic ear and analytical eyes.”

Earlier this year, in the same week as Warner announced its acquisition of Sodatone, a company that has developed a tool for talent-spotting via data, another data company, Instrumental, secured $4.2m of funding. The industry appeared to have reached a tipping point — what the website Music Ally called “A&R’s data moment”. Which is why, wherever the music industry’s great and good gather, the word “moneyball” has become increasingly prevalent.
........YouTube, Spotify, Instagram were born and changed the way talent begins its journey. All the barriers came down. Suddenly you’ve got tens of thousands of pieces of music content being uploaded.......Home computing’s democratization of recording removed the barriers to making high-quality music. No longer did you need access to a studio and an experienced producer, plus the money to pay for them. But the music industry had no way to keep abreast of these new creators. “....The way A&R people have discovered talent has barely changed since the music industry began, and it’s fundamentally the same for indie labels, who put artistry above sales, as it is for major labels who have to answer to shareholders. It’s always been about information.....“We find them by listening to new music constantly, by people giving us tips, by going out and seeing things that sound interesting,”.....“The most useful people to talk to are concert promoters and booking agents. They are least inclined to bullshit; they’ll tell you how many people an act is drawing,”...like labels, publishers also have an A&R function, signing up songwriters, many of whom will also be in bands)....“Journalists and radio producers are [also] very useful people to give you information. If you know you’ve got particular DJs or particular writers who are going to pick up something, that’s really good.”
.......Instrumental’s selling point is a dashboard called Talent AI, which scrapes data from Spotify playlists with more than 10,000 followers.....“We took a view that to build momentum on Spotify, you need to be on playlists,”....“If no one knows who you are, no one’s going to suddenly start streaming a track you’ve just put up. It happens when you start getting included on playlists.”......To make it workable, the Talent AI dashboard enables users to apply a series of filters to either tracks or artists: to sort by nationality, by genre, by number of playlists they appear on, by the number of playlist subscribers, by their industry standing — are they signed to a major? To an independent label? Are they unsigned?
.......What A&R people are looking for, though, is not totals, it’s evidence of momentum. No one wants to sign the artist who has reached maximum popularity. They want the artist on the way up....“It’s the direction. Is it going in the right direction?”....when it comes to assessing what an artist can offer, the data isn’t even always about the numbers. “The one I look at the most is Instagram, because that’s the easiest way for an artist to express themselves in a way other than the music — how they look, what they’re into,” she says. “That gives a real snapshot into [them] and whether they really have formulated a world for themselves or not.”......not everyone is delighted with the drive to data. “[the advent of] Spotify...became the driving force for signings...“A&Rs were using their eyes rather than their ears — watching numbers change rather than listening to music, and then jumping on acts....they saw something happening and got it out quickly without having to invest in the traditional A&R process.”... online heat tends to be generated by transient teenage audiences who are likely to move on rather than stick around for a decade: online presence is a big thing in electronic dance music, or some branches of urban music, in which an artist might only be good for a single song. In short, data does not measure quality; it does not tell you whether an artist has 20 good songs that can be turned into their first two albums; it does not tell you whether they can command a crowd in live performance..........The music industry, of course, has always had an issue with short-termism/short-sightedness: [tension] between the people who sign the cheques and those who go to bat for the artists is built into the way it works..........The problem is that without career artists, the music industry just becomes even more of a lottery. It is being made harder, not just by short-termism, but by the fact that music has become less culturally central. “It’s so much harder to connect with an audience or grow an audience, because there’s so much noise,”
.......Today the A&R...agree that the new data has its uses, but insist it still takes second place to the evidence of their own eyes and ears.......As for Withey, he is not about to tell the old-school scouts their days are done....Instrumental can tell A&R people which artists are hot, but not which are good. Also, there will be amazing acts who simply don’t get the traction on the internet to register on the Talent AI dashboard.....All of which will come as a relief to the people running those A&R departments. .....when asked if data will become the single most important factor in scouting talent: “I hope not. Otherwise we may as well have robots.” For now, at least, the golden ears are safe.
A&R  algorithms  analytics  data  dashboards  tips  discoveries  filters  hits  Instagram  inefficiencies  momentum  music  music_industry  music_labels  music_publishing  Moneyball  myths  playlists  self-mythologize  songwriters  Spotify  SXSW  success_rates  talent  talent_spotting  tipping_points  tracking  YouTube  talent_scouting  high-quality  the_single_most_important 
july 2018 by jerryking
How Data Is Revolutionizing The Sports Business
March 10, 2017 | Forbes | By Robert Tuchman , CONTRIBUTOR who writes about live events, deals, and brand marketing.

A top-notch record might be chalked-up to the right players and exceptional coaching, but a team’s increased brand awareness can be credited to its effective use of newly sourced data. The Panthers have been able to grow its business in a multitude of ways since it started acquiring and using key fan data....[there is] an array of data companies who are looking to assist organizations in this area.

Many of these emerging companies access information through individual data systems, third-party vendors, and social media sites. Beyond educating teams about the buyer of their tickets, these companies are helping teams better understand the individuals entering their building. This insight is a game-changer for teams as it can help to better service existing fans and develop new ones. To better service its fans, the Panthers created unique events that catered to their interests, which they learned from their data. For example, in a game against the Colorado Avalanche, Florida hosted an evening honoring the Grateful Dead. The Panthers organization secured a well-known and beloved Florida cover band, Unlimited Devotion, to play the hits of the legendary musical icons. Incentivizing “Dead Heads” to purchase tickets via the Internet, limited edition memorabilia was made available only for online ticket purchasers, with a portion of the profits going to the Grateful Dead's non-profit organization. These types of cross promotions work best when you understand the specific interests of your fans.

And the results are in. The Miami Herald reported that during the 2015-2016 season, attendance went up 33.5 % from the previous season. In addition, season ticket renewals are reportedly increasing at four or five times last year’s rate......In today’s fragmented world, it is more important than ever for teams to generate loyalty and create a personalized customer experience. As in the case of the Florida Panthers, the greater involvement a fan may have in a team’s activities, the greater the possibility they migrate from their living rooms to the venue. More fans equal more sponsors, which leads to greater revenue for teams.

Data companies can help teams better understand its fans. Innovative sports franchises are figuring out how to use this data to create stronger engagements with their actual fans.
sports  data  data_driven  Moneyball  event-driven  events  event_marketing  fans  fan_engagement  musical_performances  cross-promotion  customer_loyalty  personalization  customer_experience 
august 2017 by jerryking
From Michael Lewis, a Portrait of the Men Who Shaped ‘Moneyball’ - The New York Times
By ALEXANDRA ALTERDEC. 3, 2016
Lewis decided to explore how it started.

The inquiry led him to the work of two Israeli psychologists, Amos Tversky and Daniel Kahneman, whose discoveries challenged long-held beliefs about human nature and the way the mind works.

Mr. Lewis chronicles their unusual partnership in his new book, “The Undoing Project,” a story about two unconventional thinkers who saw the world differently from everyone around them. Their peculiar area of research — how humans make decisions, often irrationally — has had profound implications for an array of fields, like professional sports, the military, medicine, politics, finance and public health.....Tversky and Kahneman's research demonstrating how people behave in fundamentally irrational ways when making decisions, relying on their gut rather than available data, gave rise to the field of behavioral economics. That discipline attracted Paul DePodesta, a Harvard student, who later went into sports management and helped upend professional baseball when he went to work for Mr. Beane.....Unlike many nonfiction writers, Mr. Lewis declines to take advances, which he calls “corrupting,” even though he could easily earn seven figures. Instead, he splits the profits from the books, as well as the advertising and production costs, with Norton. The setup spurs him to work harder and to make more money if the books are successful, he says.

“You should have the risk and you should enjoy the reward,” he said. “It’s not healthy for an author not to have the risk.”
Amos_Tversky  Michael_Lewis  Moneyball  books  book_reviews  unconventional_thinking  biases  cognitive_skills  unknowns  information_gaps  humility  pretense_of_knowledge  overconfidence  conventional_wisdom  overestimation  metacognition  behavioural_economics  irrationality  decision_making  nonfiction  writers  self-awareness  self-analysis  self-reflective  proclivities  Daniel_Kahneman  psychologists  delusions  self-delusions  skin_in_the_game  gut_feelings  risk-taking  partnerships 
december 2016 by jerryking
Mirtle: Sloan conference leading Big Data revolution in sports - The Globe and Mail
JAMES MIRTLE
BOSTON — Globe and Mail Update (includes correction)
Published Thursday, Feb. 26 2015
sports  MIT  massive_data_sets  analytics  Moneyball  Octothorpe_Software 
february 2015 by jerryking
The man who made data play ball - FT.com
November 14, 2014 11:01 am
The man who made data play ball
Simon Kuper
analytics  Moneyball  baseball  sports 
november 2014 by jerryking
Putting Moneyball on Ice?
2007 | International Journal of Sport Finance | by Daniel S. Mason' and William M. Foster^
'University of Alberta
^University of Alberta-Augustana Campus
Moneyball  Octothorpe_Software  NHL  sabermetrics  hockey  valuations 
october 2011 by jerryking
The Business of Sports: Here Come the Technocrats
September 16, 2006 | Wall Street Journal |By Russell Adams |
As senior vice president of operations and information, Mr. Morey's first job was to modernize the ticket-sales operation. He tapped a Cambridge company called StratBridge Inc. to install technology allowing the sales team to visually analyze, in real time, who the customers are, where they're sitting and what they're willing to pay for tickets.
sports  analytics  Octothorpe_Software  NBA  basketball  data_driven  Moneyball  MIT  StratBridge 
october 2011 by jerryking
Why haven’t advanced stats caught on in the NHL? - The Globe and Mail
james mirtle
From Saturday's Globe and Mail
Posted on Friday, September 23, 2011
analytics  Moneyball  hockey  Octothorpe_Software 
september 2011 by jerryking
The Moneypuck revolution - The Globe and Mail
JAMES MIRTLE | Columnist profile
TORONTO— From Saturday's Globe and Mail
Published Friday, Sep. 23, 2011
hockey  analytics  Moneyball  Octothorpe_Software 
september 2011 by jerryking
Going beyond 'Moneyball'
October 24 2006 | FORTUNE Magazine | By Brian O'Keefe, Fortune
senior editor. 'QA with Moneyball author and sports economist Michael
Lewis who explains how iconoclasts in business and sports find new ways
to succeed, and discusses his new book. "This is painful for most
people to do, because they face ridicule and ostracism. I think
intelligence is overrated as a quality central to this kind of
innovation. It's a kind of nerve. It's the ability to take a risk."
"People are put in natural underdog situations where if they do things
the way that everybody else does, they are certain to lose."
Michael_Lewis  innovation  silicon_valley  Moneyball  overrated  iconoclasts  underdogs  books  risk-taking  ridicule  ostracism 
november 2009 by jerryking

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