Predictive analytics helps to pick up the winning team of Fifa WC 2014

An investment banking firm  has developed a ‘stochastic model’ its predictions to generate distribution of results for the each of the 64 matches to be played during WC.The predictive model is part of the the World Cup and Economics 2014. Stochastic modeling is used to forecast outcomes, even in the field of sports. This mathematical model predicts the probability of outcomes. According to the model, predicting the outcome of the WC is based on predictions for each match on “regression analysis”. This analysis used 14,000 observations to approximate the coefficients of its model. The dependent variable is the number of goals attained by each team during a match. Based on this analysis Brazil fares as the winning team. The next are Argentina and Germany, but these two teams have inferior probability. Read more at:

http://blog.arekibo.com/world-cup-2014-the-use-of-analytics-to-predict-the-winning-team/