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Featured Blog Posts – July 2013 Archive (19)

Today's Big Data is Not Yesterday's Big Data

The on-going Big Data media hype stirs up a lot of passionate voices. There are naysayers ("it is nothing new"), doomsayers ("it will disrupt everything"), and soothsayers…

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Added by Kirk Borne on July 31, 2013 at 1:00pm — 4 Comments

Push SAS Further with JQuery and AJAX - It's Easy!

In the Jurassic SAS in the BI/EBI World blog, Don Henderson shows fun and cool ways to push SAS a little further, which is using SAS Server Pages, JQuery and AJAX.

Check out his startling and beautiful results.  …

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Added by Tricia Aanderud on July 30, 2013 at 2:41am — No Comments

Statistical Thinking is not science fiction, but a data science necessity

Over 100 years ago, the great science fiction writer H. G. Wells was credited with saying"Statistical thinking will one day be as necessary for efficient citizenship as the ability to read or write." It is clear that this statement is probably more true today than ever, as Big Data and Analytics are paraded before every aspect…

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Added by Kirk Borne on July 29, 2013 at 9:00am — 3 Comments

Reckless analytics: financial suicide or public disaster

Here we discuss two types of widespread analytic handicaps: individuals affected by poor analytics, committing financial suicide but impacting very few people, and government or corporate analytic failure negatively impacting millions of people.…

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Added by Vincent Granville on July 27, 2013 at 10:30pm — 3 Comments

Big data for Equity Research

Have you looked at the syllabus of the Finance class on financial modeling at the University? It is outdated: It teaches you how to do modeling on one single company, if possible multiple years of the same company. To any Analytics professional, it is a joke. It's like having a table with a few records - one record for each year. Let's wake up and go for a change:

1. Pour the whole world of companies into research: instead of putting the projection of financial data in different…

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Added by Jeffrey Ng on July 27, 2013 at 10:00am — 3 Comments

The challenges of "Marketing" Analytics

   Marketing analytics has been around for so long that people have now started talking about sub - areas such as CRM analytics, forecasting, marketing supply chain, perishable retail analytics and so on. However, before you discredit this to be another blog reiterating the importance of analytics, I would like to clarify that this is rather about the challenges an analytics company faces in marketing analytics solutions. 

   On the surface, selling analytics seems to be simple... who…

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Added by Amogh Borkar on July 25, 2013 at 2:30am — 1 Comment

Weekly digest - July 29

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Added by Vincent Granville on July 25, 2013 at 12:30am — No Comments

12 predictive analytics screw-ups

Guest blog post by . First published in ComputerWorld.

Computerworld - Whether you're…

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Added by Vincent Granville on July 25, 2013 at 12:10am — No Comments

Book FAQ: Is the Book “Predictive Analytics” for Experts?

When you invest the time to read a book, you're investing a lot more than the $17 to buy it.

Many ask whether my book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die, is at the right level for their needs. Is it too advanced? (Quick answer: definitely not.) Will it instruct me on how to execute on predictive analytics? (Not directly – it is an industry primer rather than a…

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Added by Eric Siegel on July 17, 2013 at 11:45am — No Comments

Belly dancing mathematics

This is a follow up to our article on Structuredness coefficient to find patterns and associations, featuring an image (animated gif) with rotating dots that simulate waves. I went one step further here, to create a new data video, where rotating points (by accident) simulate…

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Added by Vincent Granville on July 16, 2013 at 11:30pm — 1 Comment

Structuredness coefficient to find patterns and associations

We are investigating a metric that measures the presence or absence of a structure or pattern in data sets. The purpose is to measure the strength of the  association between two variables, and generalizes our modern correlation coefficient in a few ways:…

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Added by Vincent Granville on July 12, 2013 at 4:00pm — 3 Comments

AnalyticBridge Mathematical Competition

Please read our update regarding this competition, before applying, as some significant progress has been made (no winner yet as of 7/22). The purpose of the competition is to prove one of the mathematical conjectures recently discovered in our statistical research laboratory.…

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Added by Vincent Granville on July 10, 2013 at 7:00pm — 4 Comments

How would you detect and stop this type of crime?

Trailhead parking lots are notorious for crime activity - including from bears. These remote, un-patrolled locations, hidden in dense forests, attract all sorts of bad guys. One original crime is thieves stealing the park fees paid by hikers. These fees consist of $5 bills inserted by trail users (hikers) in an envelope, and dropped in a locked mailbox at the trailhead. These wooden boxes are easy to break and…

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Added by Vincent Granville on July 10, 2013 at 4:30pm — 5 Comments

Making your Analytic project an end product

I read about this from some other source (which I forgot) and would like to attribute this idea to the original author. As an industry practitioner, I do not feel ashamed of copying people's idea at work.

The subject is indeed a challenge for us as an Anlaytics geeks. You (our internal client) came with a problem and we solved your problem, period. No, the best solution is to be able to sell your analytic project that can benefit your internal client's client.

ANZ, an…

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Added by Jeffrey Ng on July 9, 2013 at 9:38am — No Comments

Partial Retraction Regarding Chase’s Profit with Mortgage Prediction

This blog post is to retract an aspect of a story about Chase Bank that I reported in my book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die (published by Wiley, February 2013).

Although predictive analytics professionals usually tell accurate stories about their projects, sometimes the information that comes from human beings is less reliable than the data driven systems they…

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Added by Eric Siegel on July 8, 2013 at 12:30pm — No Comments

NIST Big Data Definitions and Taxonomy Generates Probing Questions

Many interesting questions came up in the NIST Definitions and Taxonomy Big Data group meeting today. Brilliant minds are hard at work to stabilize the language around Big Data, but some fundamental questions have been posed that the marketplace seems to believe we have already solved.

  • How do we differentiate Big Data from traditional big data like sensor feeds, credit card processing, and financial transactions. What makes it different? One noted professional taxonomist…
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Added by Donald Krapohl on July 8, 2013 at 11:30am — No Comments

Weekly digest - July 8

Featured Articles

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Added by Vincent Granville on July 5, 2013 at 1:00pm — No Comments

NIST Big Data Working Group Is Open to Participants

The US National Institute of Standards and Technology (NIST) kicked off their Big Data Working Group on June 19th 2013.  The sessions have now been broken down into subgroups for Definitions, Taxonomies, Reference Architecture, and Technology Roadmap.  The charter for the working group:

NIST is leading the development of a Big Data Technology Roadmap. This roadmap will define and prioritize requirements for interoperabilityreusability, and extendibility for…

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Added by Donald Krapohl on July 3, 2013 at 8:58am — No Comments

wind energy generator bidding profile

using analytics and a lot of elbow grease .. came up with this.

check out the bidding profile of wind energy generators , bidding power into PJM during the month of Jan 2013..

need your feedback and comments to improve..

wind energy generators

Added by Parag Patil on July 1, 2013 at 2:38pm — No Comments

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