By now you have likely seen, read or heard about the story of the Oakland A’s baseball teams of the early 2000s. Led by General Manager, Billy Beane, the club had limited resources with which to build a winning team, especially when compared to big budget competitors like the New York Yankees, Boston Red Sox, etc. As opposed to relying on old school player evaluation tactics, they hired analysts who used statistical models to identify batters who could score more runs and find pitchers who could get more outs. While the Moneyball story is framed within the game of baseball, it’s really about math. It showed that we can depend on numbers to help predict success. And while it was not perfect, this particular “numbers first” approach proved better than an expert’s best guess.
Guest post from Chris Sietsema, who teaches and trains small to medium-sized businesses and non-profits in the disciplines of search, social media, email marketing and online analytics. Chris owns Teach to Fish Digital, a one-man consultancy in beautiful Mesa, Arizona. He also created the infographics for The NOW Revolution. A common challenge for us is [...]