Our second keynote speaker of the 10th annual iQmetrix Retail Summit is none other than Paul DePodesta, whose story became famous with the book and film Moneyball.
The Moneyball story became a hit with both baseball fans and business leaders because it challenged the status quo for managing personnel. At the time of Paul’s hiring, Oakland was one of the worst teams in the league, coming off six losing seasons while posting one of the lowest payrolls in baseball. In an industry entrenched in ingrained thinking and outdated systems, the A’s needed the unique management and creative approach that GM Billy Beane and Paul brought to the table.
Conventional wisdom in MLB is that wealthy teams – who spend three times as much on talent as poor teams – will win out. But in Paul’s final four seasons in Oakland, the A’s won more regular season games than the New York Yankees, who during the same period spent $350 million more on player payroll than the A’s. In this session, Paul will discuss the innovative strategies he used to create a winning team, as well as the application of these strategies in the corporate world.
It's like cooking a gourmet meal when you can only afford to shop at 7-Eleven. Paul DePodesta
A long habit of not thinking a thing wrong gives it a superficial appearance of being right.
We started to ask the naive question: If we weren't already doing it this way, is this the way we would start?
We took everything we thought we knew about the game and we threw it out the window. We started over and studied everything.
Data with our process was a way that we could do that - to stack the odds in our favor.
"Most importantly", Paul said, "if you remember this one thing - root for the Mets!" (Paul is currently the Vice President of Player Development and Scouting for the New York Mets.)