Here is a snippets from FAQ section of last year's basketball Prospectus to put SCHOENE in perspective.
How has SCHOENE performed?
Honestly, not great. Of the six pure statistical projec- tion systems tracked last year on the APBRmetrics message board, SCHOENE had the largest mean er- ror, pegging teams wrong by an average of 5.0 wins over the 66-game schedule. However, when I studied possible adjustments over the summer, I found noth- ing that would have improved SCHOENE’s results
over multiple previous years. So the system remains unchanged from last season, which is essentially the third incarnation of SCHOENE. (The first was used only in 2008-09. The second, rolled out for the first edition of Pro Basketball Prospectus in 2009-10, be- gan incorporating multiple years of past player per- formance.)
Historically, SCHOENE has proven more effective at pegging the direction teams are heading than their specific win total. So a different measure--which sys- tem was closest to each team’s final record--showed SCHOENE performing as effectively as any of the other systems. SCHOENE was closest to the pin on six teams; only a set of projections using regularized adjusted plus-minus as tracked by poster EvanZ did better, with seven.
The moral of the story is to temper the most extreme projections. When SCHOENE projects that the Min- nesota Timberwolves will be an elite team this year, the appropriate conclusion is that the Timberwolves are closer to contending than conventional wisdom would indicate, not that they are as good as anyone in the Western Conference.
I'm predicting mid to high 40s this year. BTW, SHOENE predicted 48 wins for the Knicks last year, which is three more wins than ESPN predicted. Both predictions were off.
Always... always remember: Less is less. More is more. More is better and twice as much is good too. Not enough is bad, and too much is never enough except when it's just about right.
- The Tick