“Moneyball”
1. What is business analytics?
“Business analytics (BA) is the practice of iterative, methodical
exploration of an organization’s data with emphasis on statistical analysis.
Business analytics is used by companies committed to data-driven decision
making. Business analytics is used to gain insights that inform business
decisions and can be used to automate and optimize business processes.
Data-driven companies treat their data as a corporate asset and leverage it
for competitive advantage. Successful business analytics depends on data
quality, skilled analysts who understand the technologies and the business
and an organizational commitment to data-driven decision making.” –
About.com
“Business analytics refers to the skills, technologies, applications
and practices for the continuous exploration of data to gain insight that
drive business decisions. Business analytics are multi-faceted. It
combines multiple forms of analytics and applies the right method to
deliver expected results. It focuses on developing new insights using
techniques including, data mining, predictive analytics, natural language
processing, artificial intelligence, statistical analysis and quantitative
analysis. In addition, domain knowledge is a key component of the business
analytics portfolio. Business Analytics can then be viewed as the combination
of domain knowledge and all forms of analytics in a way that creates analytic
applications focused on enabling specific business outcomes.” – Frank
Diana
2. How is it applied to the movie?
As an observation while I’m watching the movie the application of the
business analysis here was the investigation that yielded these perceptions
was not uneducated number crunching, but an analysis guided by practice
knowledge. The initial analysis concentrated not on outcomes such as hits
Nikixandra T. Beltran September 23, 2013
BS Computer Engineering Ms. Karla Pacificador
and runs, but on procedure variables, such as the event of hitter hitting the
ball to a specific position, at a specific speed and trajectory.
The result from such a hitter's actions is subject to numerous issues, as
well as luck. For example, the same line drive could sometimes result in a
single, a double or an out. But it is possible to estimate the probabilities of
these outcomes and, in turn, how these consequences affect the "state" of
the inning.
The state of the inning agrees the quantity of outs and the locations of
runners on the bases/centers. The expected number of runs for a given state
can be assessed from the thousands of time this state has been observed in
the past. In addition to this is the part of selecting the players/athletes, and
the whole baseball industry had focused on how they can change to the best
quality players per dollar, but the goal is to win, not to field the best athletes.
3. What is it importance to modern management?
The availability of strong business-focused analytical talent will be the
greatest constraint on a company’s analytical proficiencies. The outsourcing
of analytics will become an eye-catching substitute as the need for particular
skills that will lead organizations to look for outside help. Analytics allows a
company to concentrate on taking action based on insights delivered by the
outsourcer. The outsourcer can influence these specialized resources across
multiple clients. As the importance of analytics grows, organizations will have
an option to outsource.
We will see more organizations establish enterprise data management
smarter approaches such as information lifecycle management as opposed to
the common approach of throwing more hardware at the growing data
problem. The information administration challenge will grow as millions of
next-generation tech-savvy users use feeds and mash-ups to bring data
together into usable parts so they can answer their own questions. This gives
rise to new challenges, including data safety and supremacy.
4. How the four functions of management does applied in the movie? (planning, organizing, etc.)
Planning:
They analyze first together with team owner on how they can get the
best quality players. What type of players should they employ and this led to
a focus in evaluating the players’ fielding, pitching, quickness, hitting and
hitting for power.
Organizing:
How they chose and picked-out the players base on their given types
and categories.
Leading:
How Billy Beane, the general manager of the Oakland A’s take over the
decision making.
Controlling:
How Billy Beane and the rest of the managers monitor and evaluate
the actual performance of the team.
5. As future managers, will you use business analytics in your decision making?
Yes. Merely because every organization or business who desires to gain
momentous competitive benefit should fully exploit the possible of analytics. To
increase an edge over your race in any field, one must not rely only on the limits
such as knowledge and instinct. One needs to use analytics to assess available
possessions and best ways to implement strategies for a great win. Does the above
assures a success? I think it’s not more often it’s a trial and error root but it surely
does increase the chance for a win.
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