March Madness is here and as always there is a great deal of debate about which teams get in and which teams stay home. How does the selection committee decide? They follow set Principles and Procedures. Of particular interest is the mix qualitative and quantitative factors they use:
“The RPI is one of many resources/tools available to the committee in the selection, seeding and bracketing process. Several independent elements are combined to produce the RPI. These elements are a part of the statistical information that may or may not be utilized by each member in any manner they choose. Computer models cannot accurately evaluate qualitative factors such as games missed by key players or coaches, travel difficulties, the emotional effects of specific games, etc.”
Do you know the qualitative factors to accurately evaluate what the computer model might miss for your brand, product, packaging or advertising?