71 | Innovating with Data: Changing the Game of Sports Fan Engagement

We have all heard the thematic concepts of why "data" is an emerging natural resource, that is becoming increasingly valuable, and that must be captured, understood, and utilized - but becoming a data centered organization, is not as easy as it sounds.

Edson Crevecoeur, Miami Heat's VP of Strategy & Data Analytics, and the Chief Data Officer for 601 Analytics, is joining this 🎬 LIVE 🎬 episode of the Data Binge Podcast, to talk through how he is helping to change the way that NBA teams use technology to make data driven decisions that increase revenue.

601 Analytics was born out of the Miami Heat organization, as a data platform that helps drive performance in the sports and entertainment industry, by offering a real-time analytics engine, that captures everything from venue attendance, to sale of tickets, to food and beverage items, giving a "real-time view" into business operations for greater customer delight and organizational direction - imagine using real time crowd prediction, to augment venue staff or merchandise selection and marketing.

Edson brings with him an entire career in data and analytics, his voice comes with a wealth of wisdom on all things business, culture, innovation, and of course, DATA - and if you are interested in building new businesses or innovating with the power of data, this episode is for you.

 

Key Take-aways:

[06:54] The journey into a career in data

[11:22] The inherent power of data as a critical resource to any organization

[12:50] How the pandemic fueled digital transformation in the Sports industry

[13:22] Why data is becoming more important to organizations as an outcome of the global pandemic

[16:20] Basic use cases that demonstrate the power of how 601 Analytics adds business value

[20:07] The emergence of digital athlete cards and other sports related technologies

[24:20] The strategic relationships between data and business

[28:28] The four main points organizations should have to create an internal engine of culture, process, and mindset

[32:46] How to get started: creating new businesses, products, and innovations using data

[39:59] The breaking point moment of launching a new business

[45:48] The importance of diversity inclusion to technology innovation and new business development

 

 

Memorable Quotes:

[17:06] “Think about the amount of waste and spoilage you can prevent, if you can predict the number of people that are going to be there specific to where they're going to be sitting, how they're entering the building, and anticipate what sort of needs they could potentially have. I know with our use case, doing this with the Miami Heat, we were able to save up to almost a million dollars in operational costs”. -Edson Crevecoeur

[40:26] “What I realized is that, especially when you're introducing a new product, and that really provides no reference point, or history of prior success or anything of that nature, sometimes you have to give it out for free. Find potential customers who you think would benefit the most