Whew, where to start?
One thing that will assist you is keeping records. There are 344 Div.1 CBB teams. It's very difficult to try to remeber everything you need to know about all those teams, players, coaches, home/road stats, etc.
Of course, Excel is a good place to put down data, as you can sort it different ways for analysis.....but more importantly, simply compiling data is a way of reinforcing the stats that you will need to know later. Everyone has their own way of compiling data. I suggest you select items that you feel are necessary and simply begin. Undoubtedly, you'll need to revise your database many, many times, but each time you'll be further along in the process. Your notes may be about player strengths, weakness, team schedules, coaching decisions, home court tendencies....anything you deem important. Most of the things you jot down now will be useless later, but thats all part of the learning curve. It's important you identify those items.
I know this is not a precise quote, but it rings true...."....unless you have inside information or are able to process informaton that is wildly available in a superior manner, you're better off not gambling.
FWIW....good luck