Invest Like the Best with Patrick O'Shaughnessy Jeff Ma – Making Decisions with Data - [Invest Like the Best, EP.151]
Dec 10, 2019
Join Jeff Ma, a data scientist and author known for his role in the MIT Blackjack team, as he dives into the fascinating world of decision-making with data. He discusses the evolution of sports analytics and its impact on gameplay strategy, contrasting qualitative and quantitative insights. Jeff shares insights from his career at Twitter and how data influences hiring practices. Plus, he explores the psychology of gambling, the importance of understanding biases, and the transformative role of analytics in both sports and business.
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Sports Analytics Evolution
- In sports, analytics adoption has increased, leading to strategies like prioritizing corner threes in basketball.
- Better data is crucial, and advancements like player tracking and computer vision are improving data quality for more accurate predictions.
Experts vs. Models
- Jeff Ma recounts how Bill Walsh intuitively understood successful yardage in football without data, while Jerry West initially distrusted basketball statistics.
- This highlights how some experts possess innate pattern recognition, while others benefit from models.
Outcome Variables
- In sports analytics, focusing on more specific metrics can be valuable, such as scoring chances instead of just goals.
- 'Cluster luck' can skew results, so refining outcome variables is important.
