This thread will outline, explain, and analyze advanced statistics.
Shooting
eFG% (effective field goal percentage):
[FGM + .5 (3PM)] / FG
This statistics goes a step beyond regular field goal percentage by counting three-pointers as 1.5 field goals made, thus creating a more accurate representation of shooting ability than regular field goal percentage. For example, Ray Allen shot a field goal percentage of .428 which isn't very impressive, but considering he attempted, and made, a lot of three-pointers, his eFG% is .498.
Scoring
TS% (true shooting percentage):
Pts / 2 [(FGA) + (.44 * FTA)]
This statistic also goes beyond regular field goal percentage by factoring in scoring efficiency. By including free-throw attempts, TS% can measure how efficient a scorer is. Because it uses a numerator of total points, this type of scoring efficiency percentage gives a very accurate view of how good of a scorer a player is. PSA (points per shot attempt) is TS% doubled.
General Efficiency
John Hollinger's PER (player efficiency rating).
Note that PER doesn't really account for defensive stops so it should only be used for evaluating the offensive aspect of a players' game. It is a useful statistic, though.
How to calculate PER.
Rebounding
RbR (rebound rate):
[TRB (Team MP / 5)] / [MP (Team TRB + Opp TRB)] * 100
Rebound Rate accounts for the amount of missed shots a player rebounds while he is on the floor. This gives a better view at how good a player is at rebounding than normal per game or Per 48 rebounding statistics.
To see how well a team rebounds:
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At the team level, rebound percentage takes into account the fact that good teams usually outrebound their opponents because defensive rebounds are easier to get than offensive rebounds. The total team rebounding percentage is the average of its offensive and defensive rebounding percentages.
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Team OReb% = TmOReb / (TmOReb + OppDReb)
Team DReb% = TmDReb/ (TmDReb + OppOReb
Team Reb% = (Team OReb% + Team DReb%)/2
Player rebounding percentage can also be split into offensive and defensive rebounding, which can prove insightful because few players are equally adept at both. At the team level, there is actually surprisingly little relationship between offensive and defensive rebounding, probably because offensive rebounding depends heavily on whether the coach chooses to crash the boards or play back to prevent fast breaks.
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Ball Handling
Usage Rate:
40 * (League Pace / Team Pace) * ((FGA + 0.44 * FTA + 0.33 * AST + TO) / MP).
Usage rate estimates the number of possessions a player uses per 40 minutes played. A measure of the possessions a player uses in the offense. All discussions comparing turnovers and assists need to take usage into account. For example, from a per game perspective, Michael Jordan seemingly had a good deal of turnovers, but when you look at his usage rates, his ability to not turn over the ball and yet use a third of his team's possessions is amazing.
Team Statistics
Possessions:
FGA + .4 * (FTA) - 1.07 * [ORB / (ORB + Opp DRB)] * (FGA - FG) + TO
The number of possessions a team has per game, which becomes very useful in efficiency statistics as shown in the next too statistics. Possessions, although it may seem very complicated, is a simple advanced (for the lack of a better phrase) statistic.
Offensive efficiency:
100 * (Team Points / Team Poss)
Offensive efficiency is an estimate of the number of points scored per 100 possessions. A very simple statistic that measures a team's offensive efficiency by calculating the number of points a team scores for each possessions generally multiplied over 100 possessions.
Defensive efficiency:
100 * (Opp PTS / Opp Poss)
Defensive efficiency is an estimate of the number of points allowed per 100 possessions. A very simple statistic that measures a team's defensive efficiency by calculating the number of points a team gives upfor each possessions generally multiplied over 100 possessions.
Pace:
48 * [ (Team Poss + Opponents Poss) / [2 *(Team MP / 5)] ]
Pace factor is an estimate of the number of possessions per 48 minutes by a team and its opponents. Pace estimates how fast a game is played and explains why certain fast-break teams seem to always be involved in high scoring games. If each team is given more possessions, they will likely score more points and pace measures this.
* Recognition to MongolainDeathCloud for suggestions/descriptions.