The story behind the story
There is this true story about the Oakland Athletics baseball team surprising everyone by finishing first in the American League West during the season 2002.
Oakland Athletics had one of the lowest budgets in the league and was a definite underdog with three key players departing the team... But they beat all the odds and won.
Their general manager Billy Beane reinvented the system that had been running for years. He started to use an analytical and data-driven approach to team management.
"Managing large amounts of data is part of every business now"
- Billy Beane to CNBC
Together with an economics graduate from Harvard Billy Beane used statistical analysis (Sabermetrics) to understand player performance and how baseball games were won.
They used these insights i.e to sign players that were under the radar and low in value but scored high in their statistics.
It is safe to say that Billy Beane revolutionized the game through the data-driven approach to management and leadership.
There is a best-seller book "Moneyball: The Art of Winning an Unfair Game " by Michael Lewis if you are interested to find out more about the topic.
Data-Driven Approach in Leadership
“The sports industry has been a pioneer in the data revolution, and there is much that we can learn about analytics management from studying it,'' says Ben Shields, Author & Senior Lecturer at MIT Sloan School of Management.
You can view this inspiring online webinar / lesson by Ben Shields to find out more about the topic.
Data-Driven Communication Strategy
It is now a common practice to use data in making Near Real Time adjustments to optimise the communication processes in order to maximize the reach.
Companies use data and gather insights to create 360 degree audience profiles to deliver more personalised experiences to the specific audience segments.
They use data to create messages that resonate better with the target audiences.
Communicating Data & Insights Becoming an Imperative
Businesses have increasing resources of data analysts and business intelligence systems in use, but often fail to share their insights with their employees. These are the people who should apply the findings to their work and improve everyday decision making.
Businesses have increasing resources of data analysts and business intelligence systems in use, but often fail to share their insights with their employees.
We are seeing more companies committing to use data in their everyday Workplace Communication.
Communicating data in practice means that we are sharing actionable information and visualizations around strategic domains
Companies integrate and automate multiple data streams into their workplace communication flow
Some examples of data that is communicated increasingly around the workplace today:
Modern companies use visualizations and different dashboards on i.e team displays to drive action. The data visualizations make it easier to understand the trends, patterns and the whole story around the data.
More about communicating data in the workplace:
How to share your Power BI Dashboards on Digital Signage?
How to drive transparency and employee engagement with digital signage?
How to Improve Workplace Safety with data driven digital signage?
Measuring Employee Engagement is now a workplace Imperative
Image Credit: Baseball Stadium by Pexels from Pixabay