So, you want to make your own computer ratings. Welcome, friend!
Do you want to predict winners, i.e., margins of victory and/or totals?
Or, do you "only" want to rank teams based on their accomplishments to date?
These two goals are not always the same. Side note: in the old days, you might have heard these referred to as "predictive" systems vs. "retrodictive" systems. I don't like that word, but that's what we had and what some of us still use.
Your choice of goal -- either of those, or both simultaneously -- is a key question you must answer first.
There are lots of aspects of a season of games that you may, or may not, want to weigh. Each question below links to some brief thoughts of my own, plus other ideas that I've culled from around the web. (All are works in progress!)
Again, these are all questions that you probably need answers to before you begin.
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• Want to create your own ranking?
• Want to browse other ranking systems?
• ...including this author's?
• More to add here...