Deployment of technology in some traditional ways of doing different things sometimes ends up giving extraordinary results. Anticipating the same, billionaire hedge fund manager Paul Tudor Jones and CEO of SumerSports Thomas Dimitroff came together. They started working to develop a technology intending to help the teams in National Football League teams making the smooth decisions at the time of free agency and the draft. This way, selection of optimal team players could be possible.
SumerSports is primarily a startup, as WSJ reported, that would use analytics providing the required tools to the teams helping them to make roster decisions while using the algorithms. The startup was founded by Paul Tudor Jones and Thomas Dimitroff, who used to be the General Manager at Atlanta Falcons.
According to the company’s statement, two NFL teams have come up with the company in order to create a model that would help the decision makers.
Jones said the model of startup would be similar to the procedure used at the time of portfolio optimization in quantitative trading strategies. He said that there were many similar principles which turned out to be very successful in the space of financial trading.
Further he added that it is clear to him that similar strategies which helped in financial trading would be applicable during the selection of players forming an NFT team. It’s quite hard to allocate the credit to every player out of 22 players present on the field.
Dimitroff said that there is hardly any team that is willing to allocate 15 to 20 people at once, especially when it comes to fulfilling the financial commitment that the developers put into the startup project.
Further he added that in the NFT, hardly a moment shows up which has baseball like highly adopted quants. This makes the executives at SumerSports believe that such inefficiencies could create a market to offer services.
Source: https://www.thecoinrepublic.com/2022/09/20/quantitative-trading-strategy-inspired-startup-for-nfl-analytics/