Posted by MIT Sloan Executive Education - 30 days ago
If you missed any of our webinars in 2016, we have good news--you can access all the complimentary recordings in our webinar library. Jump right in and explore the latest research and innovations from MIT Sloan faculty.
Posted by MIT Sloan Executive Education - 1 month and 30 days ago
Ben Shields is a Lecturer in Managerial Communication at MIT Sloan. His research focuses on the intersection of social media technologies, data analytics, and audience behavior in the sports, media, and entertainment industries.Shields served previously as the Director of Social Media and Marketing at ESPN.
Recently we asked him a few questions about the topic of sports analytics and his upcoming MIT Sloan Executive Education program, Sports Analytics Management.
MIT: The MIT Sloan Sports Analytics conference is happening in the spring. Can you tell us a little about this conference?
Shields: The MIT Sloan Sports Analytics conference is the premier event in the industry. Founded in 2007 by MIT Sloan alum and Houston Rockets General Manager Daryl Morey and CEO of Kraft Analytics Group Jessica Gelman, the conference has grown from about 175 participants in its first year to more than 4,000 in 2016. A similar crowd will be on hand this year.
The conference is the nexus point for the most innovative researchers, executives, and students to share new analytics approaches, debate current trends, and network. It is an energetic, fun, and fascinating event that never fails to make you smarter.
MIT: Following the conference is the very first session of your new MIT Sloan Executive Education program, Sports Analytics Management. Is this program intended to pick up where the conference leaves off? What prompted you to design this course?
Shields: Through the influential conference, MIT Sloan has become a hub for sports analytics research and practice. However, the conference lasts only two days. With our Sports Analytics Management course, we are expanding the dialogue and learning opportunities about this fast-growing and exciting field of sports analytics throughout the year.
Our course is designed to complement and extend key themes from the conference. Critically, we focus on helping students develop an analytics strategy and program that works for their organization or initiative. Whereas conference attendees will learn about new research methods and key trends, students in Sports Analytics Management will have the opportunity to synthesize this new knowledge into actionable plans going forward. Today, the biggest barrier to unlocking the potential of analytics is often not a technical one; it’s how leaders and organizations set up and manage an analytics program. We address the latter in our course.
The sports industry has been a pioneer in the analytics revolution, and there is so much we can learn about analytics management from studying it. I designed this course to help executives in all industries identify strategies and best practices in sports analytics and apply and refine them to their own efforts.
Posted by MIT Sloan Executive Education - 3 months and 4 days ago
Marketing successes often spark a series of copy cats—companies that decide the best approach to a quick marketing win is to just "do what they did" and reap the same benefits. Sadly, that almost never works. Mostly this is because what makes the marketing campaign successful is its uniqueness, and a copycat campaign lacks just that. So for all those companies thinking they should copy the wildly popular Pokémon Go, it’s time to put the brakes on that idea.
But there are some marketing strategies—or, more specifically, monetization strategies—that companies can learn and co-opt from Pokémon Go’s commercial and viral success. Catherine Tucker, Professor of Marketing at MIT Sloan School of Management, touched on these in her TechCrunch article, "The Monetization Promise and Pitfalls of Pokémon Go." We've summarized them below.
Develop target partner personas One might think nearly every business—especially small business—would appreciate the extra foot traffic from Pokémon Go players hunting rare characters. Some businesses with traditionally long lines and a tendency towards rapid ordering and service are not necessarily the right place for people to be playing games on their phones, however. Imagine being in a lunchtime line at a typical New York pizza place, only to be held up by Pokémon Go players glued to their phones—that’s not going to go over well with the other patrons, or with the counter staff (think Seinfeld’s famous Soup Nazi!).
On the other hand, Tucker points to franchise companies like Jamba Juice. "For starters, Pokémon Go and Jamba Juice have similarly youthful brand images ... At the very least, it's unlikely that Pokémon Go customers searching for Pokémon would inadvertently annoy Jamba Juice's existing customers." Lesson: think about how your customers, their demographics, and their behaviors map to those of your ideal partners' customers.
Don't over-value your data Consumer or user data was once thought of as extremely valuable. What kind of powerful and successful business could Foursquare build based on all that data it was acquiring (where and how frequently its users dined at and visited various types of businesses)? Well, one rather disastrous pivot later and that question will never be answered. As Tucker points out in her article, Waze and Facebook both have volumes of location-based data. Pokémon Go also has location-based data. It’s all valuable, but not unique. If you think data isyour monetization strategy, proceed with caution.
Posted by MIT Sloan Executive Education - 3 months and 26 days ago
Earlier this spring, MIT Sloan Professor John Sterman presented an important and well-attended live webinar, The Dynamics of Climate Change--from the Political to the Personal. One of the highlights of the webinar was a live demonstration of C-ROADS (Climate Rapid Overview and Decision Support) a free, award-winning computer simulation that helps people understand the long-term climate impacts of policy scenarios to reduce greenhouse gas emissions.
In the live Q&A sessions immediately following the webinar, Sterman fielded a great number of questions from the audience. However, there were simply more questions than could be answered in the time allotted. We recently posed three of the larger, unanswered questions to Sterman, and we have shared his responses below.
What's next for C-ROADS? The next steps for C-ROADS are driven by the negotiations and conversations occurring during the Paris climate agreements. First, there will be a new interface that will be easier to use and more widely available. (You can view a video preview of it here). And while the team behind C-ROADS will continue to work with negotiators and policymakers, they are also actively seeking to increase the number of skilled users. If you are interested in learning how to use C-ROADS in any setting--from the classroom to the community room to the boardroom--you can join the movement at: https://www.climateinteractive.org/programs/world-climate/
The team behind C-ROADS also has a number of other related projects in the prototype phase, one of which is EN-ROADS, a simulation tool (similar to C-ROADS) for understanding how we can achieve our energy transition and climate goals through changes in energy use, consumption, and policies. The tool focuses on how changes in global GDP, energy efficiency, R&D results, carbon price, fuel mix, and other factors change carbon emissions, energy access, and temperature. It is ideal for decision-makers in government, business, NGOs, and civil society.
Posted by MIT Sloan Executive Education - 5 months and 26 days ago
Need something to listen to on your next commute? How about podcasts by experts here at MIT Sloan? Hear what our faculty has to say about critical issues ranging from collective intelligence to innovation to neuroscience and how these issues affect organizations and executives around the world.
Posted by MIT Sloan Executive Education - 6 months and 24 days ago
MIT Sloan Executive Education recently hosted the latest in its INNOVATION@WORKTM webinar series, entitled “The New Frontier in Price Optimization," with MIT Professor David Simchi-Levi. The webinar, now available on demand, which drew hundreds of attendees from across the world, presented recent breakthroughs in the development of models that combine machine learning and optimization for pricing that significantly improve revenue and reduce inventory risks
During the webinar, Simchi-Levi presented a case study on Rue La La—an online retailer with whom he worked that offers invitation-only flash sales—to answer the question: “How can we generate an effective forecast for a product we’ve never sold before?” His second example, Groupon, a daily deal website and mobile application offering things to do, see, eat, and buy, focused on how to combine forecasting with learning on the fly to understand the probability that a customer will purchase a product at a specific price. Simchi-Levi’s third case-in-point was the story of B2W Digital, the leading e-commerce company in Latin America, which took price optimization even further by leveraging forecasting, learning on the fly, and optimization.
The event included a live question and answer session and was immediately followed by a Facebook chat with the webinar audience. Recently we spoke with Professor Simch-Levi to dig deeper into the topic of pricing optimization.
Posted by MIT Sloan Executive Education - 8 months and 3 days ago
Contributed by Bob Pozen, Senior Lecturer, MIT Sloan Executive Education
Regardless of location, industry or occupation, productivity is a challenge faced by every professional, following us throughout our respective careers. Even as a professor and published author on the topic, I still find myself improving my own skills, both at work and at home, to get the most out of each day.
With that in mind, it should come as no surprise that there is a crowd of journalists, thought leaders, and gurus tackling the topic from almost every conceivable angle. While I have my own conclusions on the best ways to stay productive, which you can read in my book and learn more about in my class, Maximizing Your Personal Productivity, staying tuned into the perspectives of other productivity experts is critical to a well-rounded outlook. In the spirit of broadening our collective productivity wisdom, below are five great articles on the topic I've enjoyed:
Inc.: "Why the Excuse "I'm Overloaded" Doesn't Work Anymore" This is a harsh reality to those who think they're too busy, but it points to a fundamental rule of productivity--prioritizing. One of the first lessons I teach in my course is how to prioritize. It seems obvious, but you'd be surprised how many people looking to be more productive don’t prioritize tasks appropriately.
Handbook of Collective Intelligence Edited by Thomas W. Malone and andMichael S. Bernstein In recent years, a new kind of collective intelligence has emerged: interconnected groups of people and computers, collectively doing intelligent things. Today these groups are engaged in tasks that range from writing software to predicting the results of presidential elections. This volume reports on the latest research in the study of collective intelligence, laying out a shared set of research challenges from a variety of disciplinary and methodological perspectives. Malone teaches in the upcoming program, Intelligent Organizations 4Dx (live, online).
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