The latest buzzword in the business world today is Data Analytics, a science where data is being used to build models to achieve better decision out of those models. Business dictionary has expanded the definition of Data Analytics as “studying the past historical data to analyze the effect of certain decisions or events or to evaluate the performance of a scenario. The main goal of analytics is to improve the business by gaining knowledge which can be used to make improvements or changes”. At present and going forward we will have to accept that the Data is a new OIL/FUEL and source for anything. Advancement of technology with unbelievable momentum on digitization is the key reason that leading us towards data driven world. On top of it, we have started to achieve intelligence other than human brain from Machine by feeding data termed as Artificial Intelligence.
Descriptive, Predictive and Prescriptive are the three different branches of Data Analytics. Prescriptive analytics not only predict about what will happen in future but also tells what should be done if the prediction varies. And this is the turning point why individual business vertical like finance, retail etc have efficiently adopted Data Analytics. Sophisticated sensors, high-end DSLR camera, video recorder and other live movement capturing devices used in various sports activities, contribute to generate data for further analysis.
Post analysis of players’ activities in a competition or tournament is a thumb rule for the coach to offer accurate guidance/ enhanced training for further improvement. By understanding the importance of data, advance countries have started consolidating different types of data, captured in various sports devices and subsequently are conducting analytics for extra-ordinary performance for the players in international tournament like Olympics.