Business Related Data and Insights in Sports Organizations

Evolution of Analytics
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Evolution of Analytics
Sports is one of the unique things that brings different people together. Since there are different sports, various sports organizations are in place to control sports. Most of these organizations have implemented business-related data and insights. Some of these organizations include FIFA (Federation Internationale de Football Association), FIBA (Fédération Internationale de Basketball), World Athletics, and International Gymnastics Federation.
For example, FIFA is a governing body for world soccer. FIFA has business-related data since it runs many functions that require data. For example, FIFA has been recording the revenue it earns from a sport and then calculating the amount it will invest back in the sport. One of the major sources of revenue for FIFA is the World Cup. FIFA is usually mandated to organize both Men's and Women's World Cups; therefore, it has access to all revenues (Beissel & Kohe,2022). Since FIFA does not cover the cost of developing infrastructure in the host country, it usually earns huge profits. FIFA also records the television rights it earns from broadcasting institutions and television institutions, allowing them to broadcast football games (Poppelwell-Scevak, 2022). Moreover, FIFA also earns from the Marketing and FIFA rights. FIFA usually uses this data to determine how much it will invest in the sport (Reiff, 2022). For example, FIFA pays some finances for the different competitions, education or development, administration, football governance, and marketing. This process helps football to remain one of the most viewed sports.
The other sports organization is FIBA, which governs the international basketball competition. Like FIFA, FIBA receives most of its finances in the basketball World Cup since most people view it. Furthermore, it is receiving the finances from different countries. Even though many countries participate in basketball, FIBA receives most of its revenue from the NBA since it is the most viewed country globally. FIBA usually uses revenue to manage finances and invest in the sport. For example, during the World Cup, it finances the 32 countries participating in the Baske...