Why the Knicks, Nets & Lakers Overpay for Losing Teams
What do the New York Knicks, Los Angeles Lakers and Brooklyn Nets have in common?
- All three NBA teams disappointed their fans last season.
- They all overpaid for the talent on their rosters.
- And they all have failed to embrace analytics to make data-driven decisions.
ESPN conducted extensive research into every team’s analytics usage and concluded that the Knicks, Nets and Lakers sorely lagged behind the rest of the league, categorizing them as “nonbelievers.”
The NBA’s best teams ranked significantly higher for their investments in analytics.
The study’s findings confirm the Moneyball theory made famous by Billy Beane and the Oakland A’s, who strategically used data science to fill their roster with undervalued — and therefore less expensive — players who helped the team win a boatload of baseball games.
Let’s take a closer look at NBA team performance to see what sales leaders can learn from professional sports.
The power of analytics
ESPN researchers placed the San Antonio Spurs and Houston Rockets in the top tier of analytics users, categorizing them as being “all in.”
The Golden State Warriors, Cleveland Cavaliers and Atlanta Hawks earned spots in the second-highest tier, designated as “believers.”
The Warriors won the NBA title last year, defeating the Cavs in the finals, and the Spurs have long been regarded as one of the league’s best-run organizations.
So, it’s pretty clear that analytics give these teams a competitive edge.
But here’s the crazy part: The teams that invest in analytics often outperform bigger-market teams with larger payrolls.
What this means for sales teams
The implications are obvious for sales leaders who are responsible for achieving greater results with fewer resources than ever before.
To win in sports and in sales, you must think differently. You must leverage data and analytics to give your teams the best chance at success.
See how innovative companies like OutboundEngine are using predictive analytics to dramatically improve their sales results in this brief video.
To discover how your sales team can take advantage of predictive analytics, get the free ebook below.
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- Xant Team