How can business professionals leverage data to perform better at work?

https://prdikt.co/

In the past decade, the role of technology has driven change in almost every sector. Major industries are generating vast amounts of data, which when used appropriately, can yield valuable sector-specific insights for businesses, helping them become a force for success. At Prdikt our specific focus is on helping business professionals to become a force for success by harnessing their own data, but more on that later…

“There were 5 exabytes of information created between the dawn of civilization through 2003, but that much information is now created every two days.”

~ Eric Schmidt, Executive Chairman at Google

Along with the increased availability of data, technological advancements in computational power and storage have made it possible to process extensive datasets in a fraction of the time. For this reason, many believe data has overtaken oil as the most valuable resource in the modern age. While this is debatable unless data is mined and handled appropriately the valuable information contained within data risks being lost or misinterpreted.

“Information is the oil of the 21st century, and analytics is the combustion engine.”

~ Peter Sondergaard, Senior Vice President and Global Head of Research at Gartner, Inc.

Professional sport provides a great example of how, when used correctly and creatively, data can level the playing field and push the boundaries of athletic performance. From football to cricket and baseball to basketball, the digital transformation of sports is in full swing. Sports clubs, teams, and athletes are increasingly reaping the benefits of data. Arguably the most notable example of this is depicted in the nonfiction book and subsequent movie “Moneyball”, which focused on the Oakland Athletics baseball team.

Image source: https://goodmenproject.com/arts/moneyball-2011-movie-review/

The Oakland Athletics used statistical analysis of player data to drive their recruitment strategy, all the while operating on a modest budget. The scouting department identified undervalued players by creating unique statistics that more accurately reflected the holistic contribution of a prospective addition to the team. The result? They finished the 2002 campaign as divisional champions while operating on the 3rd smallest budget. Moreover, the statistics implemented by the Oakland Athletics have transformed the way Major League Baseball (MLB) teams identify and evaluate talent, with many of these statistics still in use today.

Image source: https://fivethirtyeight.com/features/billion-dollar-billy-beane/

More recently FC Midtjylland, Brentford, and the Houston Rockets have harnessed data to challenge the status quo in their respective sports. American sports executive Darryl Morey revolutionised the play style in the National Basketball Association (NBA) by using data to identify the most efficient types of shots and their locations. The ultimate goal was to maximise the number of points the Houston Rockets scored per possession. During his tenure from 2007–2020, the Houston Rockets recorded the second-most wins out of every franchise in the NBA. The wider impact of these changes on the league is evident in the contrast between shot locations before and after Darryl Morey started working in the league.

Image source: https://digital.hbs.edu/platform-peopleanalytics/submission/what-happens-when-moreyball-encountered-repeated-games/

By the same token, Matthew Benham, a professional gambler and football club owner, was one of the first to advocate for the use of advanced data analytics in football. Under his ownership, data-driven approaches to decision-making have been employed to both Brentford and FC Midtjylland. Since his arrival, Brentford has been promoted from the fourth tier of English football to the Premier League. Under Benham’s ownership, FC Midtjylland won their inaugural league title and have gone on to win two more, while regularly competing in Europe by qualifying for the Europa League and Champions League. Through the use of data, both Brentford and FC Midtjylland are able to consistently identify undervalued talents with high potential for growth. Then by developing those players and then selling them for a profit, both teams can consistently increase the level of value and talent within their squads year on year.

Image source: https://eflanalysis.com/analysis/moneyball-in-football-analysing-brentfords-recruitment-strategy-data-analysis-statistics

The expansion of data and analytics within the sport is well underway and will only continue to evolve. Most recent advances include the development and adoption of new technology in the form of wearables. Wearables allow analysts to accurately collect data on individual athletes regarding their daily routines to create individualised psychological and physical profiles. For example, monitoring sleep and exercise data provides a unique insight into how athletes’ daily routines may impact future performance.

Golfers like Justin Thomas and Rory Mcllory are taking full advantage of wearables. By analysing their data and applying personal insight, they’re creating tailored routines that ensure their cognitive and physical performance is at a peak for tournaments. Having access to this data informs their decisions during tournaments, as well as their preparation beforehand.

If I’m going into the weekend of The Masters, the PLAYERS, or any other tournament, and I’m playing really well and I have a three-shot lead, I need to know what I need to do this afternoon, tonight, before bed to where I feel like I’m going to sleep my best.

~ Justin Rose, Professional PGA Tour Golfer

Red Bull Racing is taking steps to ensure they’re first past the finish line too. Like golfers, they use wearables to leverage personalised insights on driver’s readiness, sleep, and activity in an attempt to optimise recovery and boost cognitive performance.

“Providing a straightforward ability to monitor our own health will undoubtedly generate greater personal insight and also improve performance.”

~ Christian Horner, Red Bull Racing Team Principle

Here at Prdikt, we believe several parallels can be drawn between business professionals and professional athletes. Namely:

  • The high physical and psychological demands associated with both
  • The impact of Sleep, Exercise and Mindfulness on job performance
  • The increasing incidence of cases of burnout and stress-related absences in both industries

So, why can’t we apply the same science and technology to the business world and business professionals in particular?

This question is at the heart of Prdikt’s inception. Our aim is to apply the tried and tested science used by elite athletes to business professionals, with a specific focus on tracking Sleep, Exercise, and Mindfulness (SEM) patterns. We then use this data to help individuals recalibrate their routines to make the most out of their days and in time become “Professional Business Athletes”.

Find Out More:

1. Visit https://prdikt.co and sign up for our product launch.

2. Follow us on https://www.linkedin.com/company/prdikt/ and https://prdikt.medium.com/ and stay tuned to our forthcoming blog series focusing on exactly how Sleep, Exercise and Mindfulness affect your capacity to perform.

3. Perform better.

https://prdikt.co

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Prdikt helps business professionals to maximise flow and productivity via improved scheduling. Sign up for the beta!

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Prdikt

Prdikt

Prdikt helps business professionals to maximise flow and productivity via improved scheduling. Sign up for the beta!

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