How big data can help you back the right horse
The horse racing industry possesses a similar trait to many other businesses, in that people have also been trying to predict what the future holds and will use available data as well as any information to try to make better, more informed decisions.
‘Big Data’ is now talked about a lot and it refers to the fact that almost every action that takes place in the modern world leaves a digital trail; it is the collection of all this data and the ability to use it across a wide range of areas and fields.
At the heart of horse racing is the build-up to the race and deciding which horse to back, this means that horse racing really is a prime candidate for the use of big data. It has finally come to horse racing and it is a welcome addition to the sport.
In fact, a that it is exactly this type of information that traders and risk analysts utilise to price up races across the board.
Now, after a race has concluded information is available almost immediately online that enables you to check not only where your horse finished, but how fast then ran at each different stage of the race.
This data can be used by punters, professional gamblers, trainers and jockeys to analyse the result of the race in more detail and review things like whether the performance of a horse was affected by interference or positioning or even just the race was run.
Data on racing now being available within real time due to GPS technology and super-fast data transmission time means that . Customers can see where exactly the horse is in the race, with a time lag of 0.1 seconds.
Detailed info is now available on how fast horses have covered a certain section of the track, its stride length and even how fast they are jumping over obstacles.
Another major benefit that can be brought about the use of data within horse racing is predictive modelling. Usually this is something used to understand and predict behaviour of customers in most industries. It can be used in horse racing now to try and .
It can be used to detect when a horse could possibly be a greater risk of suffering an injury through pooling together various sources of information on the individual horses, the track and past events.
Predictive analysis and big data have already been used in many other sports for a long time, in order to identify talent of players and predict future performance for example.
It can be used in horse racing to the benefit of horses, jockeys and gamblers, but also even just to improve the experience of attending the races. Racetracks can use data to analyse what they visitors enjoy and use it to enhance the overall experience.