With potentially millions of dollars on the line every time they take the field, professional and major college sports programs are big business, and that means they are turning to analytics more often than ever.
Player statistics and metrics projecting on-field performance draw plenty of public attention, and are validated when a team wins. But the real success may lie in a team's ability to grow revenue and manage costs. Front office personnel are utilizing analytics techniques to market their franchises, solidify their brands, promote their sport, and optimize inventory. Each empty seat among the 10,000 to 100,000 seats in an arena can represent hundreds of dollars in lost ticket, food and beverage, parking, and souvenir shop revenue, not to mention waning fan loyalty.
Author, educator, and analytics thought leader Tom Davenport returns to All Analytics Radio on Thursday, March 10, at 2 pm, to discuss how analytics are evolving in the sports business. Davenport is professor of information technology and management at Babson College. He co-directs the Working Knowledge Research Center; has taught at Harvard Business School, University of Chicago, Dartmouth's Tuck School of Business, and the University of Texas at Austin; and has written or 12 books, including the first books on business process reengineering, knowledge management, the business use of enterprise systems. His next book, due for release in the spring, focuses on cognitive technologies.
Plus, he is a sports fan.
In this event you will learn:
How analytics are helping sports organizations to market their brands
How teams are optimizing their seating inventories
How teams and stadium operators are using analytics to improve customer service
How analytics can help leagues and sports organizations drive interest in their on-field products