Published: Jun. 23, 2014
Analytics India Magazine featured Palisade's World Cup 2014 simulation model in their article, "How to Win the World Cup Office Pool". Taking data from the rankings of over 200 national teams from FIFA spanning the past four years (2011-2014), Palisade created a model that uses @RISK to determine the probabilities of different teams winning at different stages, and PrecisionTree for mapping this information into a tree, or bracket, format. @RISK uses Monte Carlo simulation to compute thousands of different possible outcomes for the tournament automatically. The historic strengths and weaknesses of each team are accounted for in the statistical models used to represent each matchup.