Page 67 - Future Demands Jan 2021
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FUTURE DEMANDS
PHIL BAILEY
SALES DIRECTOR – TWENTY7TEC
DATA-LED:
EVOLUTION OR REVOLUTION?
Much as I’d like to think it could happen, I don’t fancy the odds of Brad Pitt playing me in a movie of my life.
However, this famously did happen to Billy Beane – the former General Manager of the LA baseball team, the Oakland A’s – who transformed the performance of the team through the smart use of data.
By understanding both what data points to look for, and how to apply the insight from these in a disruptive fashion, the team set a new record for the longest streak of wins in the history of baseball: 20.
The approach was quickly emulated and adopted by the other teams in baseball and
became the industry norm. In 2021, you cannot do business in baseball now without using a data-informed approach.
And here’s the punchline: the industry had been sitting on the data for years. Just like cricket, or football, or a whole load of the subsectors in the financial services industry, the data was there waiting to be interpreted and deployed.
We believe that that is true of the mortgage industry today, as it was in 2002 in baseball.
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