In this first video of Victor Holman’s Sports Analytics 3 Minute Drill, Victor explains statistical prediction models.
Predictive modelling uses statistics to predict outcomes. Most often the event one wants to predict is in the future, but predictive modelling can be applied to any type of unknown event, regardless of when it occurred. For example, predictive models are often used to detect patterns, after the game has taken place. In many cases the model is chosen on the basis of detection theory to try to guess the probability of an outcome given a set amount of input data.