TED Talks Daily How to outthink your competition -- with a lesson from sports | Rasmus Ankersen
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Oct 27, 2022 Success in business often hinges on understanding the fine line between luck and skill. Rasmus Ankersen uses sports analytics to reveal why successful companies frequently resist change until they face decline. He draws parallels with notable sports teams, like Newcastle United, and highlights the psychological barriers that hinder growth. The discussion also emphasizes the randomness in low-scoring sports games and urges organizations to rely on data to uncover the real factors behind their success.
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Nokia's Rise and Fall
- Nokia's 3310 was once a symbol of resilience and innovation, dominating the mobile phone market.
- However, it later became a symbol of Nokia's rapid decline, losing significant market share.
Newcastle United's Inconsistency
- Newcastle United, despite having resources and a dedicated fan base, struggled to reach its full potential.
- In 2012, they surprisingly finished fifth, but the following season, they nearly faced relegation.
The League Table Lies
- The traditional view in football is that the league table accurately reflects team performance, but this can be misleading.
- Gamblers like Matthew Benham use statistical analysis and focus on underlying performance indicators rather than league standings.