Data is a vital raw material of the information economy, much as coal and iron...– Mining of Raw Data May Bring New Productivity, a Study Says - NYTimes.com
Value Added Analysis: Business forecasting... →
A gentle reminder that maximizing forecasting accuracy may not be economical: Accuracy is largely determined by the nature of what is being forecast — its “forecastability.” Even costly and heroic efforts may not yield the level of accuracy management desires. Instead of squandering resources in pursuit of the perfect forecast, organizations should seek forecasts as accurate as can...
The Data Deluge "Economist in Feb 2010" →
A 100% non-technical motivation of big data opportunities and challenges.
Where to find historic Twitter data →
The stock market generates such vast quantities of information that, if you plow...– Data Mining Isn’t A Good Bet - WSJ.com
100 Awesome Marketing Stats, Charts, & Graphs... →
The facts behind the social media hype. Inspiring presentation from Hubspot.
Hadoop & Startups: Where Open Source Meets... →
Bold prediction about open source big data technology expanding it’s influence beyond Web startups to traditional Enterprise IT: Hadoop is the ultimate trojan horse in enterprise IT. It strikes at the heart of business — the data — in a way that adds value immediately, while setting the stage for viral growth in the future, connecting the two ecosystems and the technological and cultural...
Using preference metadata in search is the next major evolution of indexing...– Google and Twitter
Data Wrangler →
Interesting Stanford prototype for interactive online data preparation. Guesses transformation rules from your selections in the spreadsheet. Would this also work for subsequent steps of an analytics process such as training data mining models?
When using data mining to predict customer behavior it is common practice measuring performance by campaign “lift”: how much better will my target group proposed by the model respond compared to a random selection. This is highly suboptimal according to a recent white paper from Eric Siegel, a central figure in the global data mining community: “Standard response modeling...
Bishop on Graphical Models →
Distinguished Researcher Bishop is a highly respected contributor to the field of machine learning. While many of his texts are dense with math, his free chapter an graphical models is a clear and visual introduction to this emerging topic.
Recent Improvements to Winter's Exponential... →
Great update from forecasting expert Paul Goodwin on Winter’s exponential smoothing method . Despite more sophisticated methods available I see many companies using exponential smoothing due to its simplicity and adaptability. One thing leaves me wondering after reading the article: Why did it take 50 years to develop the referenced simple extensions such as windsoring outliers?