Was going to ask Barney to ask his daughter but when looking at form etc what do you look at when picking a horse? We went Windsor races last year and going for the best name is not an exact science.
When you see their form weight etc what is important?
Ask 10 different people and you'll get 10 different answers!
It might seem basic but you have to see if a horse has the ability to win that particular race. So, if it's a 7 furlong race on soft ground, has the horse ever shown the ability to win in those conditions. If it has, you then have to compare that race to the race it is currently in. Is the horse against a different class of horse (it's actually better to look at prize money than class IMO)? How much more weight is it carrying that day compared to its previous good run over the conditions? How is the race likely to be run? (This is important particularly for short flat races but can be applicable for National Hunt too).
It makes little sense to back a horse on a 3m Chase over heavy ground when it has never shown the ability to run well in those conditions! Sounds daft and obvious but you would be amazed at how many people do it. If a horse hasn't show a capacity to win over the conditions, why not? Reading the comments on the horse's performance can be very useful. For instance, it may have flopped because it made a mistake at a fence or was hampered by another horse, so you could give it a pass for that.
Generally, it's best to focus on Class (Prize Money), Going, Distance, and Race Type for starters.
With so many races each day, you might eventually find that you prefer one of the All-Weather, Flat or NH race types. It may even be a good idea to become a "course specialist" where you learn the ins and outs of a specific course. It's a ton of work and there's a good reason why only a tiny percentage of punters ever profit in the long term.
I personally think it's best to avoid major races and festivals as the odds are usually poor, the races are typically too competitive and you'll actually be better served checking 'minor' race meetings on days when there are big Cheltenham and Aintree festivals for example!
I'm probably talking rubbish and havent helped you one iota