Back in the day, data analytics was predominantly a C-level resource. Number crunching was for “nerds” and one of the more valuable competitive advantages was simply keen instinct. Things have come a long way since then.
Over the past few years we’ve seen the use and value of data shift from the background to the forefront of discussion, trickling down the corporate ladder, helping nearly every position within a company perform at a higher level. As a result, new people are using data in new and interesting ways. From real-time performance data to employee-workplace engagement, the right approach can translate varied data sets into meaningful insights used in a multitude of scenarios.
As the business applications of data analytics continues to grow, we’ve seen more and more high-profile entities and individuals throw their support behind Big Data. For example, Major League Soccer and partner Audi introduced the Audi Player Index which scores and ranks individual players based on their most recent performance data. Similarly, athletes at the 2016 Summer Olympics stated that they use performance data as a key part of their training to ensure the desired progress and improvements. Unlike the early days of business data, now it seems as if data analytics is becoming… cool.
Among the growing list of well-known business personnel supporting the use of business data analytics, there is a high-profile newcomer. You might have heard of him; recently retired NBA legend, Kobe Bryant.
Transitioning from professional sports to “normal life” can pose a litany of challenges for these athletes. Among those challenges is the change in daily routine, structure, and level of competition. Kobe Bryant wasted no time ensuring he would keep busy, and he did so in part by co-owning a venture capital fund with Jeff Stibel loaded with a $100 million investment. While the duo has already informally invested in around 15 companies, they’ve publicly announced their focus will be investments in tech, media, and (you guessed it) data!
Talk about introducing a “cool-factor,” Kobe Bryant brings an entirely different perspective on how data can be applied in a highly competitive setting. Furthermore, he is a proven winner and isn’t likely to invest in something that doesn’t have championship potential. To top it off, his legions of fans will also be exposed to the concept of business analytics by way of following Bryant’s investments. This is a positive influx of resources and attention to a polarizing industry full of supporters and skeptics. Certainly a boost to the business analytic industry, and a huge vote of confidence that data does in fact produce a competitive advantage.
To read more about Kobe’s venture capital fund, CLICK HERE.