How to use Excel Formulas in a Predictive Model for Daily Fantasy Sports

How to use Excel Formulas in a Predictive Model for Daily Fantasy Sports

Learn how to use Excel formulas to improve how you conduct research for your Daily Fantasy sports lineups. The not so exciting aspect of Daily Fantasy Sports, you will not hear too many people ranting and raving about the toil of digging through the numbers and making them make sense. The predictive model can be easily created in Excel. It doe not have to be too complex, but you do run the risk of having a similar model as your competition.

How to use Excel Formulas to Make sense of Three to Five Years of Sports Data

Okay, I am the first to admit, I am a person who likes numbers, and I am never too bored when in front of an Excel spreadsheet filled with stats telling me how a player has performed in the past. You may have heard it all before the numbers of players is like that of a stock. You can determine a lot about a piece of stock by knowing its’ past performance. How far do you go back? With three to five years of data, you can begin to develop a clear picture of performance for a stock. You would be able to do the same with stats from a player. The more stats you have the better picture you will be able to form with your predictive model. You could use Excel to establish the standard deviation of a player’s performances.

Finding Projections with is like Predicting the Movement of Stock

You find the circumstances when the stock performed best. You want to remember what factors that caused the stock to strive. If the factors appear somewhere in the future you, want to be ready to take advantage. When players have shown they perform well in under certain circumstances, you want to be there to ensure, your DFS lineups benefits.
The past only provides where the stock has been, but you want to know where it is going. If you can remember all the predictions are estimates and best guess, you should not put all your faith in every prediction or projection. A projection system will never cover every factor. By learning how to use Excel formulas, the projections can be tested for accuracy but a projection system can never remove all the randomness that occurs in Fantasy sports. It will be nearly impossible to account for every factor to influence a player’s performance. You do need a unique predicative model to help you distance yourself from the crowd.

A Predictive Model Can be Done in Excel

Predictive model can be done in Excel. It does not have to be too complex. A good predictive model will allow you to be more objective and remove focus from the idea of always selecting your favorite player for your Daily Fantasy Sports lineups. Everyone probably uses the model that allows you to weight certain factors to ensure you have some control of the outcome. The weights quantify the trust factor of certain stats.

How to use Excel formulas in a predictive model, it can be simple as the use of the SUMPRODUCT function to create weighted projections. Another example, you may want to use Excel to find the correlation of playing time with scoring for an NBA player. You may already know the correlation would quite high. There are several uses for Excel in the realm of Fantasy Sports.