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October 2009 Blog Posts (21)

The Las Vegas Counterfeiting Story: Is Your Privacy Worth More Than a Poker Chip?

By Ray Everett-Church

Last week in Las Vegas, a husband and wife team were indicted for putting $60,000 in counterfeit $100 bills into slot machines at Caesar’s Palace.

Apparently the fake bills were of such high quality that the bill scanners on the slot machines accepted about 600 of the bogus Benjamins over the course of four days before the money laundering plot was uncovered.

But what makes this story interesting from a privacy and security perspective is… Continue

Added by Vincent Granville on October 29, 2009 at 8:32pm — No Comments

Analytical Credit VaR with Stochastic Probabilities of Default and Recoveries

by Antonio Castagna of Iason ltd.,

Fabio Mercurio of Bloomberg & Iason ltd., and

Paola Mosconi of Iason ltd.

June 1, 2009

Abstract: We extend the model presented in Bonollo et al. [3] by introducing a multi-scenario framework that allows for a richer and more realistic specification, including non-static (stochastic) probabilities of default and losses given default. Though more complex from a computational point of view, the model with scenarios is still… Continue

Added by John A Morrison on October 27, 2009 at 1:54am — No Comments

(the) Illiquidity Component of Credit Risk

by Stephen Morris of Princeton University, and

Hyun Song Shin of Princeton University

September 2009

Abstract: We describe and contrast three different measures of an institution's credit risk. "Insolvency risk" is the conditional probability of default due to deterioration of asset quality if there is no run by short term creditors. "Total credit risk" is the unconditional probability of default, either because of a (short term) creditor run or (long run) asset… Continue

Added by John A Morrison on October 27, 2009 at 1:43am — 1 Comment

Zementis and SAIC Sign Marketing Agreement

Companies work together to deliver breakthrough predictive analytics solutions to utility companies.

San Diego, CA (PRWEB) October 23, 2009 -- Zementis, Inc., a leading provider of predictive analytics solutions, today announced that it has signed a marketing agreement with Science Applications International Corporation (SAIC) [NYSE:SAI, a FORTUNE 500® scientific, engineering, and technology applications company, to deliver real-time predictive analytics to utility… Continue

Added by Vincent Granville on October 24, 2009 at 4:09pm — No Comments

The Revolution of Evolution for Real-World Applications

The Revolution of Evolution for Real-World Applications

Peter Bentley

Intelligent Systems Group, Department of Computer Science University College London,

Gower St., London WC1E 6BT, UK.


This paper describes an evolutionary search method known as the

genetic algorithm (GA) and examines its application to real-world problems. A

description of the algorithm itself and its history is provided. A general review of

GA theory and… Continue

Added by John A Morrison on October 24, 2009 at 1:54am — No Comments

Net Lift modelling

One of the most perplexing data mining dilemmas has to do with building tools that effectively rank order net lift. Essentially, marketers will promote a group but also have a holdout group where there is no marketing treatment. The modelling dilemma is that the net lift or difference in response rate between the marketted group vs. non marketted group is the same across all the deciles when models are typically built against the marketted group. There is software offered by some vendors that… Continue

Added by Richard Boire on October 20, 2009 at 9:23am — 4 Comments

Dice throw: much less random than you think!

By Jon Wilner and Mark Emmons

Mercury News

Posted: 10/16/2009 06:28:06 PM PDT

Everyone knows the flip of a coin is a 50-50 proposition.

Only it's not.

You can beat the odds.

So says a three-person team of Stanford and UC-Santa Cruz researchers. They produced a provocative study that turns conventional wisdom, well, on its head for anyone who has ever settled a minor dispute with a simple coin toss.

It also could have… Continue

Added by Vincent Granville on October 19, 2009 at 9:29pm — 2 Comments

#24: Here's a thought...

An occasional series in which a review of recent posts on SmartData Collective reveals the following nuggets:

This or that?

By and large, I think marketers and market researchers underestimate the fundamental role of comparison and contrast in the way we make judgments about products. As Professor Tripsas makes clear, humans (consumers included) rely on categorization to understand the world. Looking at a new, discontinuous product, we’re likely to ask, is it this… Continue

Added by Brian Roger on October 17, 2009 at 8:23pm — No Comments

Marketers need new models..customer behaviour is changing!

For Marketer’s any change in customer behaviour is a “gold mine”. Marketing to customer’s whose behaviour is changing is far more rewarding than marketing to “static” customers! But sometimes there is "too much change" and in today's market that is exactly what is happening. Marketer's need ,what we at Cequity, call a Modelling factory approach-How to build models at speed!

Gallup chief economist Dennis Jacobe concurs that "a fundamental change is taking place" in the behavior of… Continue

Added by Chandan Pathak on October 16, 2009 at 7:18am — No Comments

Creating "wow" at the Retail front end?

The interesting thing in Retail is that eventually ,competitive advantage in location,merchandize assortments & price can be replicated by competition ,but Customer experience can be a unique diffrentiator. The difficult thing about this is that Retail brands have so many touch points with customers and how do you make each of these interactions “memorable”.

Many organizations,especially in growth markets & industries are already dangerously “out of synch” from their… Continue

Added by Chandan Pathak on October 16, 2009 at 7:11am — No Comments

Steering customers to multiple channels!

Customers are using your services through multiple channels. Customer’s access their bank through either the branch or Internet banking or other channels such as ATMs and mobile banking. Multi channel behavior however needs to be intelligently decoded. Mc Kinsey research shows that Multichannel customers spend on average 20 to 30% more than single channel users. More than 80 percent of a broad cross-section of U.S. retailers now report that they sell merchandise through multiple channels.… Continue

Added by Chandan Pathak on October 16, 2009 at 7:02am — No Comments

Superior Customer experience : "Organization instinct or Process"?

"For those organizations that have formally adopted a process-centric approach to business, the process is often formally defined, measured, monitored, and continually optimized. This level of discipline is critical to deliver a process that is high performing, predictable, efficient, effective, and error-free. In order to become more customer-centric, businesses should add the customer experience end-to-end process to their portfolio of strategically important processes. The customer… Continue

Added by Chandan Pathak on October 16, 2009 at 6:45am — No Comments

A Better Way to Mine Data

The good news, for marketers, is that data mining really can make a difference to most bottom lines. The bad news is that, despite what data mining can do, it is so often used so poorly that it is virtually useless.

In many cases, the data is a big part of the problem. Even in the most reputable companies, data is often “dirty,”—out of date or otherwise irrelevant. Most commercially available data mining packages lack the flexibility and functionality that real world marketers need.… Continue

Added by Chandan Pathak on October 16, 2009 at 5:34am — No Comments

Are ATM's Irrelevant!

I recently read a blog post which said that ATMs would now be irrelevant! I could not disagree with it more!

For many of us, the ATM has become the true face of our bank. We hardly walk into our branch but we often use the ATM. Colin Henderson has this very interesting post which centers on the reality that with each transaction, a consumer is making a decision about their banking service.

“What has really happened is that the product experience has transferred from the… Continue

Added by Chandan Pathak on October 16, 2009 at 5:00am — No Comments

Security service every financial company needs

Like all employees in the financial services field we have to deal with the security practices implemented by the SEC. These services can be very costly if you try to do it yourself because having even the smallest violation can cost your company millions of dollars and even jail time. Since being hired here at Martin & Son’s I’ve had the responsibility of keeping our office secure while trying to keep the costs down. This can be very tricky because in order to keep the cost down we hired a… Continue

Added by Stuart Griffin on October 14, 2009 at 11:54am — No Comments

Hamburger Data Quality- data collection is the start

Author: James Standen

I have noticed that when I go to a fast food outlet no matter what I get to drink with my meal it is almost always listed as "Cola" on the receipt. But I didn't order Cola. Ever. Usually I get juice, or milk. So every time I order a burger, I'm clearly a source of bad quality data.

I have looked over the counter on many occasions while I was waiting for my burger and watched the server key in other peoples orders; their fingers flew accross the… Continue

Added by Vincent Granville on October 10, 2009 at 10:00am — 2 Comments

Netflix Prize Pioneer to Speak at Predictive Analytics World

The Netflix Prize competition attracted a well-earned, white-hot spotlight in recent years, awarding a $1,000,000 prize last month for advancement in product recommendations systems - the prediction of each consumer's movie ratings.

Predictive Analytics World speaker Istvan Pilaszy pioneered in this competition by cofounding the first "open collective" team that blended in any and all submissions by other teams willing to contribute. Just like the "Borg" on Star Trek, this team… Continue

Added by Vincent Granville on October 8, 2009 at 9:30am — No Comments

Invitation to join Predictive Model Markup Language (PMML) interest group on LinkedIn

The primary focus of this forum is to create more awareness for the PMML data mining standard among practitioners, business users and IT stakeholders. We encourage discussions related to technology, IT benefits, but most of all, practical applications and business value.

Predictive Model Markup Language (PMML) group:

Thanks… Continue

Added by Michael Zeller on October 7, 2009 at 8:00pm — No Comments

Free content vs email registration requirement, which is better?

Read full post at

Interview with Direct Response Specialist (DRS) and Social Media Executive (SME)

DRS: Well this is not even a fair debate. When providing free content, how are you supposed to track sales leads? How do know who is downloading your free papers, reports or whatever? Don’t you know that one of the most valuable tools a company can have is their database of current and potential customers? Free content, well that is just plain… Continue

Added by Eric Melchor on October 7, 2009 at 8:04am — No Comments

Project Gaydar: Identifying Gay Students Using Data Mining Techniques Applied To Facebook Profiles

By Carolyn Y. Johnson

Globe Staff / September 20, 2009

At MIT, an experiment identifies which students are gay, raising new questions about online privacy

By Carolyn Y. Johnson, Globe Staff / September 20, 2009

It started as a simple term project for an MIT class on ethics and law on the electronic frontier.

Two students partnered up to take on the latest Internet fad: the online social networks that were exploding into the mainstream. With people… Continue

Added by Vincent Granville on October 4, 2009 at 12:00am — 6 Comments

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