EAST LANSING, MI (WLNS) – An East Lansing software company that mainly works with enhancing retail and hospitality marketing is using their software in a different way this March Madness.
6 News Nick Perreault introduces us to the company and their truly smart bracket idea.
“We saw this as a really good opportunity to catch a lot of people interested in March Madness and kind of show off the power of our methods.”
When it comes to winning something as complicated as a March Madness bracket, Supported Intelligence vice president Jeff Johnson and product developer Neal Anderson are taking a careful look at the numbers.
“We do a cost benefit analysis on each game and figure out which is the more valuable team to pick which one is going to get you more points over your opponents,” said Neal Anderson, product developer, Support Intelligence.
It’s known simply as smart bracket.
“We use a statistical model based on ESPN’s power index or BPI, we use that to create the likely distribution of outcomes in every matchup that could happen in the tournament,” said Jeff Johnson, vice president/COO, Supported Intelligence.
The software looks at the chances of each team winning compared to who the rest of the country is picking.
“For example team A has a fifty five percent chance of winning, but only forty percent of people picked them nationally, that means they’re an undervalued team we like to pick those undervalued teams”
“The nation is picking pretty well, there is nothing that they’ve obviously missed.”
So far the smart bracket is doing pretty well ranking in the 92 percentile nationally, but like most aren’t perfect as they missed out on Georgia State’s upset of Baylor, but Johnson says that’s the beauty of March.
“Part of the beauty of March Madness is that those unlikely games happen almost every year and it’s really hard to figure out which ones, but it’s fun to watch.”
And the guys over here at supported intelligence tell me they have Kentucky as the national champion in their bracket this year, they say depending on the success of the software from this year’s tournament, they could turn this into mobile app for next year.