Using predictive methods to assess observation and measure importance

Abstract

PurposeThis study aims to find suitable replacements for hypothesis testing and variable-importance measures.Design/methodology/approachThis study explores under-used predictive methods.FindingsThe study's hypothesis testing can and should be replaced by predictive methods. It is the only way to know if models have any value.Originality/valueThis is the first time predictive methods have been used to demonstrate measure and variable importance. Hypothesis testing can never prove the goodness of models. Only predictive methods can.