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Why ‘Moneyballing’ your labour force is the key to growing your business

Why ‘Moneyballing’ your labour force is the key to growing your business

Moneyball growing business

Jim Manzi, founder and chairman of APT (Applied Predictive Technologies) recently posted in the economist. “It is no longer enough to use intuition as a basis for making decisions”. We are in a new world full of technology which allows you to easily collect big data. Hence, we look at how basing your company’s data model on a famous Brad Pitt Baseball movie just could plant that seed that grows.

What is Moneyballing?

The 2011 movie based on the book by Michael Lewis starring Brad Pitt and Jonah Hill demonstrated how the Oakland Athletics turned the 2001 MLB season on its head. You are probably asking, what has this got to do with my business? Yet, the film outlines how a string of raw statistical data allowed the A’s to make fully informed decisions about how to succeed. This is something that you can do too. Manager at the time, Paul Depodesta, was adamant that big data drives better decisions, and to avoid analytical errors would lead to bad conclusions.

It’s easy to develop “affirmation bias,” DePodesta said. “Once we’ve made up our minds, we resist information that doesn’t agree with our conclusion,” he said.

Where does it fit into my business?

When it comes to our labour staff, we can apply these ideas to that of picking a baseball team. Try using data to better know your staff and make more informed decisions. Regular collection of basic info can lead to a portfolio of telling stats. This provides structured quantitative insight into productivity and performance levels. Applying these facts will allow you to take action using proof. Which eliminates the bias and provide confidence in your actions.

It’s easy to make assume and use our intuition to make major decisions. Within the corporate world, a perfect answer doesn’t always exist. However, stats could get you to an answer that was at least a bit better than guessing. Try using ClockWork, a staff performance management tool, to see how data can move your company forward.

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