By now, most people are aware of the growing impact of data. An article last year in the New York Times referred to the emergence of big data as “a revolution,” while an article entitled “Is Big Data the New Black Gold?” appeared in Wired in February. While large companies such as IBM claims they’re using data to build a smarter planet, most individuals are not using data but producing it through Google searches and participation on social media sites. However, data has enormous potential for helping companies and organizations analyze how productive and effective their employees and strategies are.

Perhaps the most publicized use of big data comes from sports. In 2011, the film Moneyball based on the book by Michael Lewis was released. Moneyball examined how the Oakland A’s used statistical analysis to successfully compete against teams with much higher salary caps. Essentially, the A’s used data in favor of traditional scouts to evaluate baseball players. Moneyball also helped publicize sabermetrics, the name given to data driven statistical analysis of baseball. While sabermetrics used to be relatively obscure, they are being increasingly used on popular sports shows such as SportsCenter. Though sabermetrics are only used in the sports realm, big data’s recent increase in popular notoriety could be a great opportunity to apply some of the concepts to other industries. Read More »