Welcome back ladies and gents!

Hope you’re all ready for some St Patrick’s Day celebrations! Why not kick off this bank holiday weekend with a brand spanking new Novus Opus blog post? Keeping in the spirit of the festivities, there’s a pot of gold waiting for you at the end of this installment 🙂

Devin presented us with some fascinating insights last time out with cool post on the explosion of sports analytics. Interestingly, the growth in sports data seemed to be centred around professional teams leveraging analytics to gain an advantage over their competitors. This got me thinking about other functionalities of sports analytics, which led me to this week’s Company Spotlight segment!

Opta Sports is one of the largest international sports analytics companies in the world. Headquartered just over the pond in the United Kingdom, they analyse data for dozens of sports across 70 countries worldwide. (1) Founded back in 1996, Opta Sports have been analysing sports games for over 20 years (yes, sports analytics has been around longer than you might think!)

You may not know them for their work with individual teams seeking to exploit their rivals’ weaknesses, however. Opta have been more publicly active in the statistics and visualisations departments of sports analytics. Having forged partnerships with BBC and Sky Sports, most match statistics which appear on your television screen are likely to have been supplied by Opta. In a football game for example, Opta will not only record every aspect of the game which did or did not happen in real-time (shots, passes etc.) but also what should have happened.

Introducing, Expected Goals – a statistic which tells us how many goals a team should have scored. When a shot is placed on goal, Opta’s software takes a variety of factors into account such as the angle, distance from goal, was it a header etc. and compares this to a historical database of shots in previous matches. (2) Using this data, Opta can calculate how likely it is for a shot with a specific set of characteristics to be scored. It is amazing to think that data analysis has allowed an algorithm to determine the quality of a chance when watching a football match, just as humans do intuitively.

In the graphic above which shows every single Harry Kane shot for the 2016/2017 Premier League season with Tottenham Hotspur, the larger circles represent a smaller Expected Goal metric. This means the chance was more difficult to score. We can see how Mr. Kane scored a few goals from a short distance out, which were very likely to be converted based on historical data. He has also scored from a few difficult chances too!

It isn’t hard to see how the area of sports analytics is a disruptive technology. Analytics and statistics have revolutionised the betting industry and Opta have contributed to this. Historical data being at a punter’s finger tips has change the way we place bets, forcing bookmakers to adapt. Not only this, but user experience has been enhanced by the implementation of data driven widgets into betting apps, allowing users to follow 3-D match visualisations. (3) This tool is especially useful as it allows customers to follow every twist and turn of a game, even if live streaming is unavailable.

But there’s a more human element to it too. Opta have transformed the way sports fans view the game. Providing incredible statistics which amplify special moments on the field through their social media channels is a wonderful example of this. It shows how analytics can provide insights to inspire people and initiate passionate dialogue about the world’s most popular pastimes. What’s not to love!

Sports analytics has been knocking around for a long time, but only a recent explosion has exposed the true reach of its capabilities. Whether this be a professional sports teams analysing an opponent’s movements to gain a competitive advantage, or a record breaking statistic on Twitter. The possibilities are seemingly endless. A common theme throughout this blog has been the way in which technology exerts its influence on an industry to drastically change the way we do things. Sport is no different in this sense.

Nonetheless, it is intriguing to see how technology and analytics can compliment each other in a game that is so fueled by emotion and passion. A curious thought, indeed!

Séamus Keher
Novus Opus

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Congratulations! You have made it to the POT OF GOLD:

Q: Why don’t you iron a four leaf clover?
A: Because you don’t want to press your luck!

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References

(1) R. McGuinness, R (2012). Spectators who are on the ball: A look inside the world of sports stats. [online]. Metro. Available at: https://metro.co.uk/2012/01/03/spectators-who-are-on-the-ball-a-look-inside-the-world-of-sports-statistics-272423/ [Accessed 15 Mar. 2019].

(2) Mirror Football (2017). Expected Goals – the new Opta stat you will be hearing a lot about this season. [online] irishmirror. Available at: https://www.irishmirror.ie/sport/soccer/soccer-news/what-expected-goals-mean-welcome-10978476 [Accessed 15 Mar. 2019].

(3) Opta Sports. (2019). Opta Match Visualisation. [online] Available at: https://www.optasports.com/services/opta-match-visualisation/ [Accessed 15 Mar. 2019].

 

 

Happy Monday to our readers from the Novus Opus Team 😊

Ross kicked off the Education Industry in style last week with a blistering post! EdTech certainly seems to be a rapidly developing area where technology has had a massive impact. I began to wonder: has this technological influence altered the quality of education being delivered?

The generation of young people that are presently in education are unique. They are the first generation to be raised as ubiquitous technology users. They are ‘digital natives’ in the sense that technology is so intertwined in their upbringing that it cannot be separated.

This could explain the widely accepted consensus that technology in classrooms has improved student engagement. Students are learning in an environment that is natural to them – surrounded by technology. It gives them the chance to enhance interactions with classmates and teachers by encouraging collaborative work in the classroom. (1) This sounds very promising indeed.

However, there are problems associated with implementing new technologies in the classroom. I have witnessed these teething issues first hand. In the latter stages of primary school, an interactive whiteboard was installed in our classroom. It was Wi-Fi enabled and boasted lots of cool functionalities, but our teacher at the time did not see it this way! She couldn’t adapt to the technology and eventually turned off the interactive whiteboard and reverted to the chalkboard beside it.

This professional development still seems to be an issue as it was highlighted as a key issue in Education Technology by the Horizon Project. (2) It is necessary to address this problem and ensure teachers are properly equipped to effectively operate technology in the classroom.

On the bright side, the introduction of technology into the classroom has the potential to reduce costs for student’s families. North Iredell Middle School in North Carolina, USA has leaped into a new era by issuing hundreds of students with MacBook Airs. The laptops have been funded by a grant as part of the federal Race to the Top program. (3) Students are now writing up assignments on laptops, eradicating the need for expensive stationary and copybooks. Most school textbooks have already made the jump to digital too, with material available in the form of e-books.

All things considered, technology is certainly integral to modern education and this seems to be for the better. If academics are trained and governments give financial backing, it seems the way is paved for a new generation of workforce who have been raised and educated in a technology-saturated environment. This will transform the way we work, but what does it mean for the future?

Séamus Keher
Novus Opus

References

(1) GESS DUBAI (2017). The Effectiveness of Technology in Education. [online] Available at: https://www.gessdubai.com/news-center/articles/effectiveness-technology-education [Accessed 28 Jan. 2019].

(2) Nagle, D. (2019). 6 Technology Challenges Facing Education — THE Journal. [online] THE Journal. Available at: https://thejournal.com/articles/2013/06/04/6-technology-challenges-facing-education.aspx [Accessed 28 Jan. 2019].

(3) Ramirez, M. (2014). What it Really Takes for Schools to Go Digital. [online] Time. Available at: http://time.com/3104013/digital-classrooms-race-to-the-top-blended-learning/ [Accessed 28 Jan. 2019].

Hello there 🙂

Buckle up ladies and gentlemen, we are about to dive into another Novus Opus Company Spotlight segment! Devin and Ross shared some very interesting nuggets of information on the previous two posts, enticing me to look closer at companies working in the tech-recruitment space. This week’s focus will be on LinkedIn Recruiter.

The process of recruitment can be a painstaking one. Finding the right employee involves choosing candidates, conducting interviews, drawing up a shortlist before evaluating everything to select and appoint the most suitable people.

Technology has been pervasive across all industries in recent years and recruitment has been no different. Advancements in tech and increased access to big data has facilitated a speed-up and digitisation of the recruitment process. This is embodied by LinkedIn Recruiter, a platform which automates the CV screening stage of recruitment. (1)

Essentially, LinkedIn have developed a search engine for corporations whereby users can search for prospective employees. LinkedIn Recruiter seems to be a simple addition to LinkedIn’s existing service, which comprises a business and employment platform that allows for professional networking. People already post their skills and qualifications to LinkedIn, but now employers have way of effectively and efficiently searching through potential employees by specifying job criteria.

This service allows employers to fill positions by searching for the required job titles, location and skills. For example, a firm may require three accountants in San Francisco who are skilled at cash flow analysis. (2) All LinkedIn profiles matching these criteria are returned to the user, who can prospect employees to a shortlist – namely LinkedIn’s Talent Pool.

In addition, employers can make changed to their search by saving or hiding candidates from their talent pool and can easily pick up where they left off searching, being redirected to the last page visited before leaving the project. (3) This seems to eradicate the need for trawling through hundreds of CVs, as most people seeking employment are on LinkedIn already!

Interviewing candidates is another integral stage in the recruitment process, one which has been revolutionised by technology. Conducting interviews via phone/video has surged in popularity in recent years, and it isn’t hard to see why; they smooth over logistical concerns, save money and are ultra-convenient. (4)

Considering this and the fact that LinkedIn provide a messaging service, it seems the professional networking firm have marketed themselves as a one-stop-shop for recruitment. Employers can advertise a position, make specific searches for prospective candidates, create a shortlist of these and contact interviewees on the same platform. They have seemingly eradicated the need for recruitment agencies entirely!

Nevertheless, it is an interesting development that has dawned on the recruitment industry. There is no doubt that LinkedIn have simplified the employee selection process, but perhaps this could be taken further. Will AI Intelligence eventually automate the entire process? This remains to be seen, as Devin noted problems such as bias in current algorithms have hindered dissemination.

It could be the case in our lifetime that people will be hired solely on the premise of artificial intelligence… What an interesting idea!

Séamus Keher
Novus Opus

 

 

References

(1) Oswal, N. (2018). The Latest Recruitment Technology Trends and How to Really Use Them. [online] PC World. Available at: https://www.pcworld.idg.com.au/article/633219/latest-recruitment-technology-trends-how-really-use-them/ [Accessed 5 Jan. 2019].

(2) Shaul, B. (2018). LinkedIn Launched New Features for Job Seekers, Recruiters. [online] Adweek.com. Available at: https://www.adweek.com/digital/linkedin-launched-new-features-for-job-seekers-recruiters/ [Accessed 5 Jan. 2019].

(3) Cheung, P. (2018). 3 New LinkedIn Recruiter Features That Will Make You More Productive and Efficient. [online] Business.linkedin.com. Available at: https://business.linkedin.com/talent-solutions/blog/product-updates/2018/new-linkedin-recruiter-features-that-will-make-you-more-productive [Accessed 5 Jan. 2019].

(4) Mars Library. (2015). Video interviewing & phone screening in recruitment. [online] MaRS. Available at: https://www.marsdd.com/mars-library/using-video-interviewing-phone-screening-recruitment-process/ [Accessed 5 Jan. 2019].

Good morning readers!

We hope you had a fabulous weekend. What better way to kick off the week than with a brand-new Novus Opus blog post! Having explored the ins and outs of the ticketing industry and how work is changing in that space, the time has come to shake things up a bit. Our featured industry for the next while is the Music Industry. So, let’s shake off those Monday blues and dive straight in!

The music industry has arguably faced the most radical digital revolution in recent memory, with advancements in technology dramatically changing work in this area. When we think of the music industry today, the first thing that springs to mind is streaming – but this was not always the case.

As the industry moved through the phases of records, cassette players and boomboxes, it was in 1999 when sales and profits in the music industry peaked in line with the massive boom in CD sales – the then main method of music consumption.

The success was short-lived however. Advancements in software development culminated in the birth of a peer to peer file sharing platform called Napster, which facilitated the sharing and downloading of MP3 files for free. (1) This paved the way for a new era of piracy, as more and more people adopted the new technology.

File sharing destroyed half the revenue in the industry, and business models were torn apart. (2) Innovators like Apple scrambled to adapt and restore profits with the introduction of new products such as the iPod but despite a boost, the damage from dwindling physical format sales had been inflicted.

Despite these struggles, in 2005 98% of industry revenues originated from sources over which it had measurable control – either physical sales such as CDs or digital downloads. (3) This meant that work and revenue within the industry, although faltering, was strictly controlled by record labels and artists.

This all changed when Spotify exploded onto the scene in 2011, transcending the way people listen to music. Rather than listen to one song or CD, people were suddenly given access to a wealth of music in exchange for a small monthly fee.

The sudden emergence of streaming seemed to take the industry by surprise and many failed to recognise it as an industry disruptor. Steve Jobs – Apple CEO at the time – initially scoffed at the idea of Spotify and streaming in general, infamously stating “consumers want to own their music, not rent it”. (4)

Steve Jobs was wrong of course, and we have entered a period of streaming disruption. Despite existing for such a short period of time, streaming services represented the largest share of U.S music revenue, overtaking digital downloads in 2015. (5)

This has boosted the industry massively and for the first time since 1999, we have seen a sharp turnaround in the trend of decreasing revenues. Ironically, although technology almost killed the music industry with disruptive technologies such as Napster, it seems to be resurrecting it with new technologies such as streaming.

But what does this resurgence and change mean for people who work in the industry? It hasn’t been all smiles from the artists’ point of view. Prominent musicians such as Prince and Garth Brooks have voiced concerns about the artist’s cut when it comes to streaming, while Taylor Swift pulled her music from Spotify in 2014, disputing the level of royalties she was receiving her streams. (6) Artists have been forced to adjust, turning to tours and merchandising to expand their revenue streams as streaming revenue is divided and shared among parties.

There is seemingly a solution to every problem however, and successful start-ups such as Kobalt have emerged from the cloud of controversy surrounding rights to royalties. The Scandinavian based firm provides a Neighbouring Rights service which keeps track of every instance an artist’s music is streamed globally using a unique online portal. Clients can therefore see how much revenue they are legally entitled to in royalties, increasing income by 40%. (7)

The digitisation of the music industry has not proved universally beneficial, either. Technological advancements have pummelled the brick and mortar music retailers on the high street. Prior to the closure of Irish stores in 2013, HMV went in to liquidation and employees did not receive their payments, (8) bringing into perspective how technology can negatively impact the everyday worker.

The music industry has unequivocally been overhauled throughout the years. This has changed how consumers listen to music, how businesses operate and how people work. But what will the future entail? Are we set for a period of streaming dominance? Or will another industry disruptor rear its head and flip everything upside-down? If history is anything to go by, the rapid and aggressive changing nature of music is set to continue.

Séamus Keher
Novus Opus

 

 

References

(1) Llamas, L. (2018). A Brief History of the Music Industry, From Wax Cylinders to Spotify. [online] WSJ. Available at: https://www.wsj.com/articles/a-brief-history-of-the-music-industry-from-wax-cylinders-to-spotify-1524821401 [Accessed 11 Nov. 2018].

(2) Ft.com. (2018). How streaming saved the music industry. [online] Available at: https://www.ft.com/content/cd99b95e-d8ba-11e6-944b-e7eb37a6aa8e [Accessed 11 Nov. 2018].

(3) Cellan-Jones, R. (2018). Streaming fuels music industry boom. [online] BBC News. Available at: https://www.bbc.com/news/technology-42554813 [Accessed 11 Nov. 2018].

(4) McGlade, A. (2013). Steve Jobs Was Wrong — Consumers Want To Rent Their Music, Not Own It. [online] Forbes.com. Available at: https://www.forbes.com/sites/alanmcglade/2013/03/25/steve-jobs-was-wrong-consumers-want-to-rent-their-music-not-own-it/#3cc5605c13d9 [Accessed 11 Nov. 2018].

(5) Chaparro, F. (2016). The Sound of Disruption: Innovation in Music Streaming – Nasdaq MarketInsite. [online] Business.nasdaq.com. Available at: https://business.nasdaq.com/marketinsite/2016/The-Sound-of-Disruption-Innovation-in-Music-Streaming.html [Accessed 11 Nov. 2018].

(6) Engel, P. (2018). Taylor Swift Explains Why She Left Spotify. [online] Business Insider. Available at: http://uk.businessinsider.com/taylor-swift-explains-why-she-left-spotify-2014-11?r=US&IR=T [Accessed 11 Nov. 2018].

(7) Ahdritz, W. (2018). Neighbouring Rights. [online] Kobalt. Available at: https://www.kobaltmusic.com/services/neighbouring-rights [Accessed 21 Mar. 2018].

(8) Carroll, J. (2013). HMV exits Ireland and leaves a bad smell behind | On The Record. [online] Irishtimes.com. Available at: https://www.irishtimes.com/blogs/ontherecord/2016/09/12/hmv-exits-ireland-and-leaves-a-bad-smell-behind/ [Accessed 11 Nov. 2018].

 

TGIF! Good evening folks.

Let’s get the ball rolling here with some reaction on Ross’ tantalising piece on Ticketmaster earlier this week.

My curiosity was really piqued by Ross’ allusion to Ticketmaster’s chokehold on the industry, and what competitors are doing to keep up. This got me thinking; do these high-tech start-ups really have the ability to overthrow a corporate giant like Ticketmaster? What does the future hold for the ticketing industry?

Despite Ticketmaster still leading the way in terms of ticketing, their reign has been challenged in recent years. They no longer control the space of live sports and music events (1), as companies like StubHub – who have recently signed a renewal of its pact with Major League Baseball (2) – continue to disrupt.

Despite this, when we combine Ticketmaster’s worldwide credibility and seemingly unwavering customer brand loyalty, they still manage to dominate the marketplace, with an estimated annual turnover of $7.2B. (3) Ticketmaster’s next biggest competitor, VividSeats, boasts a mere fraction of this figure.

So, what is the future of ticketing? Will Ticketmaster remain king? This is where I introduce you to Future Ticketing, an Irish start-up based in Offaly who claim to have reinvented and revolutionised the art of ticketing.

Future Ticketing’s ‘game-changing’ system incorporates the sale of tickets into the website of the vendor, rather than redirecting customers to an external site such as Ticketmaster. In this way, the vendor doesn’t lose the relationship with the customer. (4)

The Offaly based firm have experienced massive growth, aiming to double turnover each year for the next five years. Despite having only been incepted three years previously, Future Ticketing have already set their sights on Europe and the US, with plans to open an office in Yorkshire.

By internalising the ticket selling process, Future Ticketing’s clients are proprietors of customer data which facilitates marketing analytics and inference while maintaining GDPR compliance. (5) This reduces costs and creates value for the vendor.

What does all this mean? It certainly begs the question: does the future of ticketing lie in the disintermediation of third-party ticket sellers such as Ticketmaster? Nevertheless, it is interesting to see Irish companies making progress in this space.

This draws a close to our analysis of the ticketing industry. It has certainly been a rollercoaster… we hope you’ve enjoyed it as much as we have! Stay tuned for our next topic and post coming soon 😊

Séamus Keher
Novus Opus

 

References

(1) MILICIA, J. and PRESS, A. (2018). Web presents new rivals for Ticketmaster. [online] ABC News. Available at: https://abcnews.go.com/Business/story?id=4161819&page=1 [Accessed 9 Nov. 2018].

(2) Fisher, E. (2017). ‘Zero-hour’ resales are part of StubHub’s latest MLB deal. [online] Bizjournals.com. Available at: https://www.bizjournals.com/newyork/news/2017/11/22/zero-hour-resales-are-part-of-stubhubs-latest-mlb.html [Accessed 9 Nov. 2018]

(3) Owler. (2018). Ticketmaster Competitors, Revenue and Employees – Owler Company Profile. [online] Available at: https://www.owler.com/company/ticketmaster [Accessed 9 Nov. 2018].

(4) Kelly, L. (2018). Offaly-based ticketing firm taking their ‘game-changing’ system of the future further afield – Independent.ie. [online] Independent.ie. Available at: https://www.independent.ie/business/small-business/offalybased-ticketing-firm-taking-their-gamechanging-system-of-the-future-further-afield-37381129.html [Accessed 9 Nov. 2018].

(5) Future Ticketing Ltd. (2018). Future Ticketing | A new to sell Tickets for your Events. [online] Future Ticketing. Available at: https://www.futureticketing.ie/ [Accessed 9 Nov. 2018].