Analytics are play a significant role in the world of sports business. From the selection of players to the way teams market to fans and the way concessions are sold, nearly every facet of sports relies on data analytics to generate revenue and create a positive return on investment for teams, organizations, and brands. For this assignment, you will research how a specific team, organization, or brand uses data analytics as part of the marketing process. In a 750-1,000 word paper, summarize the data collection techniques used and how that data collection has contributed to the team, organization, or brand’s marketing strategy. Provide examples of specific marketing decisions the team, organization, or brand has made based on what they learned from analyzing available data. Include discussion of how the target audience reacted to these marketing strategies and the challenges of measuring the costs and return on investment associated with data analytics. Finally, share your opinion about the marketing strategies that were employed based on the available data analytics, and discuss whether or not you believe similar data driven marketing strategies could be applied across the sports business landscape. Cite at least two outside resources in your paper. Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
Data analytics is the process of using qualitative and quantitative techniques to make the raw data into useful information to get actionable insights for decision making. It is widely used in all fields of business.
Sports business analytics used in various decision making regards to the ticket pricing, fan engagement, sponsorship valuation, digital marketing. Sports data analytics helps to improve the fan with social media, evaluate players for performance, team member selection.
Chicago black hawks professional ice hockey players based in Chicago. They have hired management team to work on analytics. This greatly helped them to win Stanley cup 3 of the past six seasons. With the help of analytic based decision making they were able to find players who are undervalued by others but fit in Blackhawks kind of play. Linking the use of technology and advanced analytics has helped them to evaluate player performance and efficiency in certain areas of play.
In India, cricket has the maximum fan following. To tap this sports analytics company like Formcept gives its fan with visually appealing data and stats guru video. This video gives the bets bowlers overlaid ,worrying strikes, performance of Indian captain v/s overseas captain with commentary etc .Likewise company like sports insight , has analytics software gives detail statistics and video to anyalise players on all aspects of the game, batting, bowling partnership etc .These companies have leading sports academy, sports franchisee , cricket board etc as their client.
Definitely data analytics in sports is helping the players for increased performance and fans are having a great time with the visuals performance data of their favorite player.
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