Could Business Intelligence and Predictive Analytics forecast the next Stanley Cup winner?
NHL launches new business intelligence tool for Stanley Cup playoffs
The National Hockey League has teamed up with SAP to launch a new predictive match-up analytics tool which quantifies numerous factors that affect each playoff game. The new business intelligence tool will deliver an enhanced fan experience while providing the franchise with an advanced enterprise cloud solution. NHL Chief Operating Officer John Collins commented “In partnering with SAP and using its best-in-class SAP HANA Enterprise Cloud service, we are now able to capture game data points like never before and present existing and new statistics in a visually appealing way.”
Hockey moves fast and includes little stoppage time so many aspects of play often go unnoticed in a game’s box score. According to SAP, the predictive model generates an intricate algorithm that measures 37 different variables to help determine which team has the statistical advantage in each playoff game. There are certainly more identifiable variables that are considered in the algorithm such as shots on goal, puck time, and point’s percentage to name a few. Other advanced statistics provide deeper insight such as shooting efficiency, and high-performing goalie saves against difficult shots.
Although the NHL hasn’t historically embraced analytic tools, the league hopes this new tool will appeal more to its loyal hockey fans while deepening fan engagement through more advanced insight, and will support those who have entered the playoff Bracket Challenge on NHL.com.
While the NHL is teaming up with SAP to determine the next Stanley cup winner, organizations are utilizing business intelligence tools to help predict new business trends and make sophisticated strategy decisions. Using advanced analytics, businesses can uncover future opportunities based on prior correlations and business outcomes.
According to Computer World, unlike traditional business intelligence practices, which are more backward-looking in nature, predictive analytics approaches are focused on helping companies glean future-focused, actionable business intelligence based on historical data. Predictive analytics offers numerous benefits and provides a quantified foundation that connects data into action. One of the greatest business advantages of using business intelligence tools and predictive analytics is the time savings. Organizations can utilize predictive analytics to quickly pursue new business opportunities and facilitate the decision process without having to mine through large volumes of data.
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