Using predictive methods to assess observation and measure importance

Abstract

Purpose - This study aims to find suitable replacements for hypothesis testing and variable-importance measures. Design/methodology/approach - This study explores under-used predictive methods. Findings - The 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/value - This 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.