Per Mayor Bee commenting on SprtsClubStats assigning 3.3% probability of CBJ getting in:
Goal differential is an important component; I use it myself for tracking potential regression to average. As of today, Columbus is at a -21, Philly -13, and Ottawa -4.
None of us knows the emphasis that goal differential has in the millions of simulations that that website uses, but it's definitely a component.
Forepar: Agree MB. If you switch the SportsClub's assumption to 50/50 shot of winning games (meaning the computer program figuratively flips a coin for each game, the CBJ's odds of making playoffs are 23% as of today, as opposed to 3% using the weighted assumption. The "weighted" assumption still is an algorithim of millions of "coinflips" as the 50/50 method, but the coin is weighted differently than 50/50, using 3 major factors as I understand it: 1) "goal delta" (meaning goal differential); 2), the relative records of the opponents; and 3) a 4% boost for the home team likely winning (supposedly the NHL league-wide average). The site also builds in that for hockey, each game is given a 22% chance of going into OT (based on 22 percent of games going into OT in 2007-2008).
The site's creator admits that the site does not factor in any trends, trades or injuries (past or current). For example, his notes state that if a team was starting to rebound after a bout of injuries (e.g. CBJ), then a user/fan would be wise to estimate "X extra points in the second half of the season, and looking at what that number of points then shows" as the % likelihood of getting in.
In other words if we don't think CBJ is a .500 team the rest of the year (and not a -21 goal differential team), then we can project what we think the record will be based on trends.
For example, if CBJ finish remainder of season at 24-14-6 (93 points), the site projects a 29% likelihood of making the playoffs. 24-14-6 is not unreasonable based on recent results - though current 12-2-1 pace is not sustainable for entire season. I would think 29% chance of getting in would actually be more like 35%, because this method doesn't take into account that some of the teams battling with CBJ for those last spots will get less points than projected if CBJ gets 93 points, because CBJ will have won some head-to-head games against those competing teams that are currently projected to beat CBJ more often than not in the algorithm formula (e.g. Wash, Tor, NYR, Bos, etc.). I note that the likelihood of getting in jumps to mid 40% if CBJ gets just one more point (94 instead of 93). The 7 and 8 spots will be that tight - they almost always are.
In other words, the site is almost pure math/statistics, with very few other variables. But its a starting point...and it creates fun/angst among all us hockey fans.