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A bank offering more than 60% interest rate on saving accounts

You read correctly, not 0.6%, not 6%, but 60%. This is yearly interest, and it requires some fair amount of work, but if you have between $10,000 and $100,000 in savings and can't find a job, this could be worth the effort. Indeed if you have $100,000 in savings you might just be able to survive thanks to the interest paid to you. The way it works is by leveraging new saving account products that banks offer. The more long-term deposits a bank receive, the more leverage it gets, the more…

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Added by Amy on January 18, 2012 at 9:02pm — 4 Comments

Northwestern, IBM collaborate on business analytics courses

Northwestern University and IBM are collaborating on new business and technology curricula to help students gain the latest skills in business analytics. The new courses of study, Masters of Science degree programs with analytics concentrations in the McCormick School of Engineering and Applied Science and the School of Continuing Studies, will better prepare students and current professionals who are seeking new analytics skills for today’s competitive job market.

The U.S. Bureau of…

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Added by Vincent Granville on January 17, 2012 at 8:51pm — No Comments

Innovating Performance Models: Start with the Data You Own First

The recent "bigdata" phenomenon has introduced lots of trendy external data types like unstructured social media data. While this data is extremely valuable, IIA Faculty Member Greta Roberts makes the case that performance models should always include a fundamental, obvious, and readily accessible data…

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Added by Mike Kennedy on January 17, 2012 at 4:00pm — No Comments

Extract meta concepts through co-occurrences analysis and graph theory

....
So what I did is the following (be aware that is not the formal implementation of LSA!):
  1. Filter and take the base form of the words as usual.
  2. Build the multidimensional sparse matrix of the co-occurrences;
  3. I calculated for each instance the frequency to find it in the corpus;
  4. I calculated for each instance the frequency to find it in the doc;
  5. I weighted such TF-IDF considering also the distance among the…
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Added by Cristian Mesiano on January 13, 2012 at 9:04am — No Comments

Using Analytics to Connect Talent Characteristics with Enterprise Performance

Economic pressure drives businesses to find every advantage for increased business performance. While enterprises have carefully chosen key performance indicators, they are housed separately from key performance indicators of the people who do the work, missing an opportunity to quantitatively link a company's talent characteristics to business operations and outcomes.

IIA's January Office Hours call will discuss the connections between innate talent characteristics and enterprise…

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Added by Mike Kennedy on January 10, 2012 at 1:30pm — No Comments

Social media to determine the next President of United States: Flawed Poll, Intrinsic Bias in Social Media

See below Attensity's poll. Using Yahoo users, and Yahoo users only, as participants in the survey will result in a significant bias. This is bad from a design of experiments point of view, and no statistician would run a poll this way. Yahoo users (and social media users in general) are more liberal than other people. For instance, many older people or very poor immigrants who have no Internet account are quite conservative. This reminds me the famous poll 80 years ago when everybody…

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Added by Amy on January 8, 2012 at 10:52am — 2 Comments

Latest Article: Data Mining Lessons from the Movie "Moneyball"

My company (Discovery Corps, Inc.)  president Tim Graettinger has released a new article I think you'll like:

"If you’re a data miner, there’s a good chance you saw the movie Moneyball.  For me, the movie was entertaining, but the book was really enlightening.  I found it to be a source of numerous and familiar lessons about data mining - while couched in the intriguing context of major league baseball.  In this article, I’d like to share some of…

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Added by Daniel Graettinger on January 6, 2012 at 1:30pm — No Comments

Business Technology: So, What's Your Algorithm? | Wall Street Journal

We are ruined by our own biases. When making decisions, we see what we want, ignore probabilities, and minimize risks that uproot our hopes.

What's worse, "we are often confident even when we are wrong," writes Daniel Kahneman, in his masterful new book on psychology and economics called "Thinking, Fast and Slow."

An objective…

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Added by Vincent Granville on January 4, 2012 at 3:00pm — No Comments

Great apes think analytically | ScienceDaily

Great Apes Make Sophisticated Decisions: Research Suggests That Great Apes Are Capable of Calculating the Odds Before Taking Risks

ScienceDaily (Dec. 29, 2011) — Chimpanzees, orangutans, gorillas and bonobos make more sophisticated decisions than was previously thought. Great apes weigh their chances of success, based on what they know and the likelihood to…

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Added by Vincent Granville on January 4, 2012 at 3:00pm — No Comments

Missing Values Imputation with Bayesian Networks

A New Approach to Missing Values Processing with Bayesian Networks

Download the white paper here (39.5 MB).

With the abundance of “big data” in the field of analytics, and all the challenges today’s immense data volume is causing, it may not be particularly fashionable or pressing to discuss missing values. After all, who cares…

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Added by Vincent Granville on January 4, 2012 at 2:39pm — No Comments

Text analytics report spotlights analytics as a source of competitive advantage in finance, pharmaceuticals, telecoms and others

User adoption of text analytics grew 25 per cent last year, creating an £635ml market, as more and more businesses look to harness customer “voices” on social networks.

Email, blogs, Twitter, Facebook and the like has created a pool of “noisy data” loaded with invaluable insight on customer attitudes and…

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Added by Amy on January 4, 2012 at 10:30am — No Comments

1010data’s Unique Big Data Analytics Platform Sees Stunning Growth in 2011

Company’s Fast and Easy “Trillion-Row Spreadsheet™ Experience” a Hit with Users

NEW YORK (January 3, 2012) – 1010data, Inc., provider of the leading cloud-based, Big Data analytics platform, announced today the results of its annual ecosystem review, revealing large growth in…
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Added by Jean-Paul Rasson on January 3, 2012 at 2:00pm — No Comments

$33,000 to get an outdated Applied Maths degree, offering no job prospects

From University of Washington, Seattle. Curriculum puts emphasis on numerical analysis, digital filtering, image de-blurring, contour detection and techniques that are 30 to 40 years old. I tried to get an exact price quote, but couldn't find again the web page where the price is listed.

Clearly a service that is priced based…

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Added by Amy on June 19, 2011 at 9:30pm — 15 Comments

A proposed new calendar could save more than 100 billions of dollars each year | MSNBC

Forget leap years, months with 28 days and your birthday falling on a different day of the week each year. Researchers at Johns Hopkins University in Maryland say they have a better way to mark time: a new calendar in which every year is identical to the one before.

Their proposed calendar overhaul — largely unprecedented in the 430 years since Pope Gregory XIII instituted the Gregorian calendar we still use today — would divvy out months and…

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Added by Amy on January 2, 2012 at 2:30pm — No Comments

New highway toll system poorly designed due to lack of analytic thinking

As of yesterday, a toll system is in place for drivers crossing the I-520 bridge, linking Seattle to Redmond, where the big Microsoft campus is located. It is claimed to be the most modern toll system in US, and drivers don't need to stop to cross the bridge, there's actually no toll booths, no human beings to process your payment.…

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Added by Titus on December 30, 2011 at 5:00pm — No Comments

Data mining without prior assumptions | MIT

The information age is also the age of information overload. Companies, governments, researchers and private citizens are accumulating digital data at an unprecedented rate, and amid all those quintillions of bytes could be the answers to questions of vital human interest: What environmental conditions contribute most to disease outbreaks? What sociopolitical factors contribute most to educational success? What player statistics best predict a baseball team’s win-loss…

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Added by Jean-Paul Rasson on December 28, 2011 at 11:30am — No Comments

Using Visual Analysis to Detect Call Center and BPO Fraud

Outsourced customer service and Back Office Processing (BPO) organizations process an ever increasing number of transactions and contacts every day. Agents have access to large amounts of sensitive customer information and access to company inventory to perform their operations. Every operation that is granted to outsourced agents allows for potential theft, abuse or breach of sensitive information or goods and services.

Threats within these industries range…

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Added by Andrew Marane on December 28, 2011 at 8:30am — No Comments

More about retail analytics

I lived in California a while back, and have experienced a few instances where large companies headquartered e.g. in Minneapolis, were selling products in all their stores nationwide as if everybody in US had the same weather, seasons and body size.

In particular, some stores (maybe Target - I don't remember) that sell garden tables did not have any product available in late February, although late February in much of California is a great time to remodel your garden.

Also,…

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Added by Mirko Krivanek on December 26, 2011 at 9:00pm — No Comments

Get prediction intervals for your forecasts, with this easy to apply statistical model

WK1model

In the words of Dr. Chris Chatfield: Predictions are often given as point forecasts with no guidance as to their likely accuracy (and perhaps even with an unreasonable high number of significant digits implying spurious accuracy!).

 

Our paper sets forth a synergy of existing statistical theories to obtain a clear-cut model for calculating forecasts with prediction intervals, named the…

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Added by MARTIN VAN WUNNIK on December 26, 2011 at 3:39pm — No Comments

Google acknowledges that its algorithms don't work with the keyword "Jew"

The message below is from Google, you can read the original version at www.google.com/explanation.html.

If you recently used Google to search for the word “Jew,” you may have seen results that were very disturbing. We assure you that the views expressed by the sites in your results are not in any way endorsed by Google. We’d like to explain why you’re seeing these results when you conduct this search.

A site’s…

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Added by Marcel Remon on December 26, 2011 at 12:30pm — 1 Comment

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