They are reducing the complexity to 2 factors
1. Team Value Index (TVI) - basically a quality wins metric weighted toward away games
This is function of wins/losses, opponent and location (home/away/neutral sites)
2. Adjusted Net Efficiency Rating (net points per 100 possessions)
Offensive and defensive efficiency weighted with strength of opponent and location (home/away/neutral)
They are getting rid of the direct contributions to the NET formula of:
a. Winning %
b. Adjusted Winning %
c. scoring margin
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