11-1 is best case scenario. One regular season loss and a shot at the B1G title, and in all likelihood playing in the biggest bowl game since 2001.
10-2 with competitive losses to UW and OSU would also signal (at least to me anyway) an improvement. Not losing a dumb game to a lesser team a la Iowa St 2009, Northwestern in 2011, Minnesota in 2013 and 2014, or any game from last season. This scenario would also set up a chance at an 11 win season. Something NU hasn't done in 15 years.
9-3 status quo. More of the same. Not bad, not great. No shot at conference title. Lame bowl. Keep hoping that "next year is the year."
8-4 Would be very disappointing.