This episode we're chatting 'Moneyball'.
What about it?
Well, in baseball they talk about the "intangibles" that players may or may not have. He or she has the "it" factor. It's a gut feel that has usually been accepted and often embraced by recruiters and teams.
But Moneyball, in particular Billy Beane and his team at the Oakland A's questioned this widely accepted "gut feel" and how accurate it really is. As we know he and his analytics team famously went out on a limb at the time and used data to make baseball recruiting decisions, not on this gut instinct or the "it" factor. The idea of an algorithm or computer supporting important sporting recruiting decisions was initially laughed at. But since the Moneyball story became well known it's now not only accepted, but embraced. This approach has quickly spread into other sports too.
This episode I'm joined by Chris Keane, the senior recruiting analyst at the Sydney Swans who, as you may have guessed it, has an analytics background, not a football background.
New approaches to traditional ways we go about things can sometimes be perceived as wrong, when in fact they may may in fact improve the decision we're trying to make. Whether it's recruiting the next best AFL player, or making the your next investment. We're increasingly seeing data being embraced as a way to improve our decision making.
Show notes are avaiable here
This episode is bought to you by Six Park, Australia's leading robo-advisor.