Predictive Analysis in Business: “Moneyball” Film

Introduction

Predictive analysis is a powerful tool for businesses and individuals; it has started to be used extensively over the past several years. Its elements are portrayed in some movies, in which characters use predictive analytics for decision making. Moneyball (2011) can be considered one of the examples of movies that address the benefits of prediction methods.

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Main body

The movie presents a story of the Oakland Athletics baseball team and its manager, Billy Beane (Moneyball). Beane becomes disappointed when the players lose the elimination game and decide to develop a strategy for establishing a competitive team. The manager uses the assistance of a Yale economics graduate, Peter Brand, to assess players’ value. This strategy shows a high level of effectiveness as the team’s records begin to improve. The story illustrates the significant benefits of using technologies to improve potential outcomes or performance.

The movie features predictive modeling and shows how computer-generated analysis of historical data can be utilized to guide the decision-making process. The presented strategy included compiling players based on their scores. The individuals who showed poor performance based on traditional baseball metrics but had a positive rating on predictive statistical analysis were hired in a team. The goal of the movie is to show that ineffective evaluation systems may result in poor decisions while predictive analysis can be vital for effective decision making (Edward). People tend to make choices based on intuition and various biases, while computers and prediction technologies are not affected by these factors.

Conclusion

It is necessary to mention that the movie is based on a real story that happened in the 2000s when business analytics tools were not popular (Edward). Technologies shown in the movie seemed futuristic and inappropriate at that time but became one of the most effective ones within the next decades.

Works Cited

Edward, Zach. “Moneyball: Improve Performance Using Predictive Analytics.” Strategy. 2017. Web.

Moneyball. Directed by Bennett Miller, performances by Brad Pitt, Robin Wright, and Jonah Hill, Sony Pictures, 2011.

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StudyCorgi. (2021, June 8). Predictive Analysis in Business: "Moneyball" Film. Retrieved from https://studycorgi.com/predictive-analysis-in-business-moneyball-film/

Work Cited

"Predictive Analysis in Business: "Moneyball" Film." StudyCorgi, 8 June 2021, studycorgi.com/predictive-analysis-in-business-moneyball-film/.

1. StudyCorgi. "Predictive Analysis in Business: "Moneyball" Film." June 8, 2021. https://studycorgi.com/predictive-analysis-in-business-moneyball-film/.


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StudyCorgi. "Predictive Analysis in Business: "Moneyball" Film." June 8, 2021. https://studycorgi.com/predictive-analysis-in-business-moneyball-film/.

References

StudyCorgi. 2021. "Predictive Analysis in Business: "Moneyball" Film." June 8, 2021. https://studycorgi.com/predictive-analysis-in-business-moneyball-film/.

References

StudyCorgi. (2021) 'Predictive Analysis in Business: "Moneyball" Film'. 8 June.

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