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Baseball Prospectus describes its PECOTA (Player Empirical Comparison and Optimization Test Algorithm) projection system as follows:
PECOTA is a system that takes a player’s past performance and tries to project the most likely outcome for the following season. It looks at all of the numbers, and all the numbers that make up the numbers, to see which players are more likely to repeat their success and which ones benefited from good fortune.
In other words it’s 100% analytics, which is 100% fine for a system that is designed to take subjectivity out of the equation.