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Featured Blog Posts (1,487)

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 Analytic Girl 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 Analytic Girl 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 Analytic Girl 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

Big Data Analytics

Big data i s the new buzzword within the data warehousing and business analytics community.

According to TDWI r ecent report on BIG data, there are 3 Vs of big data – Volume which is multiple terabytes or over petabytes, Variety which is numbers, audio, video, text, streams , weblogs, Social media etc…
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Added by Sandeep Raut on December 26, 2011 at 10:03am — No Comments

How to build simple, accurate, data-driven, model-free confidence intervals

An updated version with source code and detailed explanations can be found here.

If observations from a specific experiment (for instance, scores computed on 10…

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Added by Vincent Granville on December 25, 2011 at 8:00pm — 5 Comments

How could Amazon increase sales by redefining relevancy?

By improving its search and relevancy engines, to include item price as a main factor. The type of optimization and ROI boosting described below applies to all digital catalogs. Here we focus on books.…

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Added by Vincent Granville on December 25, 2011 at 5:00pm — 1 Comment

Sales forecasts: how to improve accuracy while simplifying models?

The solution is simple: leverage external data, and simplify your predictive model.

Back in 2000 I was working with GE's analytic team to improve sales forecasts for NBC Internet, a web portal owned by NBC. The sales / finance…

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Added by Vincent Granville on December 24, 2011 at 9:00pm — 3 Comments

Real Life Example of Text Mining to Detect Fraudulent Buyers

The credit card transaction described here in details is a real example of a fraudulent transaction performed by organized criminals, undetected by all financial institutions involved, and very easy to detect with simple text mining techniques.

It was not caught by any of the financial…

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Added by Vincent Granville on December 21, 2011 at 5:00pm — 1 Comment

IBM Tech Growth Predictions: Energy, Biometrics, Mind Reading, Mobile, Junk Mail | ABC News

Who would have guessed, five years ago, that by 2011 we would have mobile phones that would, in a rudimentary way, listen to our questions and give us useful answers? Or ways for doctors to get help to…

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Added by Vincent Granville on December 21, 2011 at 1:08pm — No Comments

MINE: Detecting novel associations in large data sets

Tool detects patterns hidden in vast data sets

By Haley Bridger, Broad Communications, December 16th, 2011…


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Added by Vincent Granville on December 20, 2011 at 1:12pm — No Comments

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