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Fan Data Analytics: Key to drive sports company growth

Over the last several years, the buzz word in business and IT circles has been "big-data" and analytics. Many many articles and write-ups talk about them so I won't go into the details. You could get enough to last a lifetime with just the first few results of a Google search of these terms. But do you really know how it applies, specifically to a sports company?

For long, sports franchises have been one of the biggest users of analytics. Before this was a buzz word, coaches and managers have relied up numbers and finding patterns in them to drive on-field performance. Indeed, the major leagues of the world have relied on performance analytics for everything from scouting for talent to calling the action on the field of play.

But that never transcended to the off-field, more mundane but equally important task of managing the sports business. As more and more options come up vying for the fan's attention - live events, travel, other sports, TV, the Internet - the war for the fan's wallet has heated up, even as their love and loyalty has remained the same.

A sports team thrives on its performance on the field to remain competitive and on its performance in the business sphere to sustain and become profitable. As sports team come out of the mould of being vanity buys and trophy's on rich owner's shelfs to self-sustaining businesses, more of them are asking - so what analytics do we need for the business side of the house?

That's where Fan Data comes in. Irrespective of how a sports co gets is revenues - media, sponsorships, tickets, merchandise, loyalty, content, etc. - it is all based on a committed fan base that is understood, analysed and catered to in the best manner. While true sports fans don't switch allegiance often, how much they spend on their team, year over year, truly determines how successful the sports business is. And similar to the deep science of CRM in traditional businesses, FRM is the answer to this aspect of sports business.

Next up, we will dive a little deeper into the various aspects of FRM itself.

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Comments

  1. Innovative thought leadership, great new perspectives of how to leverage the data to drive the business based on sports fan activity and make it interesting for the fans and the sports club. I strongly believe this will be trend setter in the sports fan industry, opening up yet to be explored territory and probably grossly untapped market. Once the fan is engaged then sky is the limit to untapped opportunities like on-line ticketing, on-line sports fan merchandise, hooking to sports travel, sponsor the club, rave / rage review of fans, etc., which both fans and sporting clubs will love it.
    A concept sure to rock in sporting nations and sporting leagues being the order of day.
    Fantain fan ;-) Nirmal Kumar Siva Kumar

    ReplyDelete
  2. Innovative thought leadership, great new perspectives of how to leverage the data to drive the business based on sports fan activity and make it interesting for the fans and the sports club. I strongly believe this will be trend setter in the sports fan industry, opening up yet to be explored territory and probably grossly untapped market. Once the fan is engaged then sky is the limit to untapped opportunities like on-line ticketing, on-line sports fan merchandise, hooking to sports travel, sponsor the club, rave / rage review of fans, etc., which both fans and sporting clubs will love it.
    A concept sure to rock in sporting nations and sporting leagues being the order of day.

    Fantain fan ;-) Nirmal Kumar

    ReplyDelete

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