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Moneyball and Metrics that Matter® John R. Mattox, II, Ph.D. Director of Research Friday March 8, 2013 9:45a – 10:45a
Agenda Recap Moneyball Themes that make Moneyball relevant How is Metrics that Matter® like Moneyball What does this mean for you? (Or how can you be more like Brad Pitt?) March 8, 20133© 2013 Copyright KnowledgeAdvisors
Baseball Movies What are the greatest baseball movies of all time? March 8, 20134© 2013 Copyright KnowledgeAdvisors Pride of the Yankees The Rookie The Bad News Bears A League of Their Own Fever Pitch Field of Dreams* Bang the Drum Slowly Moneyball Bull Durham* The Natural http://www.forbes.com/sites/markhughes/2012/10/23/top-10-best-baseball-movies-of-all-time/ Not on the list: Major League For the Love of the Game*
Moneyball 5 Brad Pitt as Billy Beane, former player and general manager of the Oakland A’s Responsible for finding the best players for the club March 8, 2013© 2013 Copyright KnowledgeAdvisors
Plot Billy is a former top draft pick and chose to join the major leagues rather than attend Stanford Had all the right skills: – Arm strength – Speed – Hitting ability – Power (hitting with power) – Fielding He should have been wildly successful as a player, but he was not. He knew the predictors of success were flawed. 6 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Plot 2001 Oakland A’s go to the playoffs and nearly make it to the World Series 2002 high performers leave for bigger markets due to free agency (more money) – Jason Giambi, Johnny Damon and Jason Isringhausen Beane has to replace this talent Moreover he has only one-third the budget of top teams like the Yankees How can he remain competitive? 7 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Competitive Advantage Find new talent – Minor leagues – College / high school Get more money to buy old talent – The boss offers no new money Look at the game a different way He knew he had to find new ways of assessing undervalued talent that he could acquire but didn’t know how. 8 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Enter Peter Brand Jonah Hill plays Peter Brand, a fictionalized version of Paul DePodesta, who played baseball and football at Harvard. He joined the A’s as an assistant to Beane. His role: – Predict wins* – Find talent – Determine player value 9 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Transition Great scene—Beane throws out the old guard Old Guard Recruiting squad Former athletes Opinionated—based on gut and experience Using old measures Unable to adapt to need to optimize talent and minimize cost Old Guard Recruiting squad Former athletes Opinionated—based on gut and experience Using old measures Unable to adapt to need to optimize talent and minimize cost New Guard Recruiting analyst Opinionated—based on data New measures that lead to wins Top talent at least cost New Guard Recruiting analyst Opinionated—based on data New measures that lead to wins Top talent at least cost 10 March 8, 2013© 2013 Copyright KnowledgeAdvisors
New Metrics On base percentage – Not just hits – Working the strike zone – Wearing out a pitcher – A walk is as good as a hit Defense is overvalued Trade for value – Trade 1 high cost player for multiple low cost players 11 March 8, 2013© 2013 Copyright KnowledgeAdvisors
New Team Island of Misfit Toys – A catcher with bad knees playing first base because he can work the count and get on base – A pitcher who throws side-arm – A overweight catcher from U of Alabama that no one was interested in recruiting – A baby brother—Jeremy Giambi (great hitter, terrible defense) – Trade their star candidate for rookie of the year to acquire other players 12 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Short run / Long run Early Season Manager not bought into the philosophy Not playing the right players Losing record Early Season Manager not bought into the philosophy Not playing the right players Losing record Late Season Beane trades away manager’s favorites Win 20 games in a row 103 – 59 record Win the AL West Late Season Beane trades away manager’s favorites Win 20 games in a row 103 – 59 record Win the AL West 13 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Leadership Find a new way to evaluate players Adopt a new philosophy – Find all players that can do the job – Determine undervalued players – Hire them despite contrarian opinions Ruthlessly (unemotionally) cut for the good of the organization Persist in the face of adversity (recruiting staff and early losses) 14 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Davenport’s Summary Tom Davenport, who frequently writes about analytics, described six ways that most organizations are like the Oakland A’s: – Analytics can provide organizations with an edge – Analytics can help you recruit your best team – A transition to analytics will require strong leadership – Gaining an edge requires skills and attention – The changes toward metrics will be met with opposition – Analytics alone won’t carry the day – http://blogs.hbr.org/davenport/2011/09/six_things_y our_company_has_in.html http://blogs.hbr.org/davenport/2011/09/six_things_y our_company_has_in.html 15 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter® Moneyball describes a game changer with a new philosophy How is Metrics that Matter® similar? – Leadership – Efficiency – Effectiveness – Strategy – Executive reporting – Benchmarks 16 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter® Leadership Leadership – Measuring in an under- measured and under-valued space (L&D) to bring efficiency and demonstrate effectiveness – Expanding measurement to include human capital analytics (Employee Survey Module) 17 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter® Efficiency Efficiency – Provide a world-class learning analytics systems Is 4 times more efficient than manual processes Standard forms / Smart Sheets (Levels 1 – 5) Connects to LMS / HRIS Automates distribution, collection and reporting Uses OLAP to increase analytics processing and reporting 18 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter® Effectiveness Effectiveness – Provide a world-class learning analytics systems Fully automates the measurement of Levels 1 - 5 Provide predictive analytics— indicators of whether training will have job impact & business results Report individual and aggregated class results (including conferences) Display information using dashboards 19 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter® Strategy Strategy – Advise organizations on the best ways to build sustainable measurement practices Use diagnostic tools to assess current state of measurement maturity Use tools to assess knowledge and skills about evaluation practices among employees Develop a future state vision and roadmap for success 20 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter®--Executive Reporting Executive Reporting – Executives are selective about what they read and how they read it Talent Development Reporting Principles is designed to communicate the value of L&D to executives Focuses on – Efficiency – Effectiveness – Outcomes 21 March 8, 2013© 2013 Copyright KnowledgeAdvisors
Metrics that Matter® Benchmarks Benchmarks – Nearly 1 Billion data points in the Metrics that Matter® system – Analyze by Industry Job Role Region Course Type 22 March 8, 2013© 2013 Copyright KnowledgeAdvisors
So Much More … Technology Modules March 8, 2013© 2013 Copyright KnowledgeAdvisors
Thank You & Let’s Talk 24 For further information contact: John R. Mattox, II, Ph.D. Director of Research 615 714 7299 firstname.lastname@example.org www.knowledgeadvisors.com March 8, 2013© 2013 Copyright KnowledgeAdvisors
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