Archive for the ‘Analytical methods, procedures & protocols’ Category

Nums: A world of battling algorithms

February 21, 2017

In my SBA course, we explored how human judgment and decision-making can often be outperformed by out-performed by algorithms, especially in oft-repeated data-rich situations which are largely rules-based.

In a cool 15 minute TED Talk (my all time favorite), tech entrepreneur Kevin Slavin tells how algorithms have reached across industries and into every day life.

A couple of lines caught my attention:

  • There are more than 2,000 physicists working on Wall Street developing operational algorithms
  • Massive scale speed trading is dependent on millisecond read & respond rates …
  • So, firms are physically literally locating right next to internet routing hubs to cut transmission times
  • And, of course, there isn’t time for human intervention and control
  • “We may be building whole worlds we don’t really understand, and can’t control.”

Worth listening to this pitch … a very engaging geek who may be onto something big.

click  to view video
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Follow on Twitter @KenHoma        >> Latest Posts

Sportswriter say: Advanced analytics can save the Redskins … oh, really

December 3, 2014

We’re working through predictive analytics in class these days.

So, my eyes are open for articles on the subject.

Predictive analytics.

You know, the stuff that Moneyball got rolling in baseball … and Target popularized by identifying pregnant women before the women knew they were expecting.

Let’s set the stage.

The Washington Redskins have been having (another) rough season.

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Veteran sportswriter Tony Kornheiser says advanced analytics could save the Redskins…

(more…)

Nums: A world of battling algorithms

February 26, 2013

I’ve been getting back into behavioral economics and predictive analytics.

Led me back to a cool 15 minute TED Talk.

Tech entrepreneur Kevin Slavin tells how algorithms have reached across industries and into every day life.

A couple of lines caught my attention:

  • There are more than 2,000 physicists working on Wall Street developing operational algorithms
  • Massive scale speed trading is dependent on millisecond read & respond rates …
  • So, firms are physically literally locating right next to internet routing hubs to cut transmission times
  • And, of course, there isn’t time for human intervention and control
  • “We may be building whole worlds we don’t really understand, and can’t control.”

Worth listening to this pitch … a very engaging geek who may be onto something big.

* * * * *
Follow on Twitter @KenHoma               >> Latest Posts

Nums: A world of battling algorithms

December 27, 2012

In a cool 15 minute TED Talk, tech entrepreneur Kevin Slavin tells how algorithms have reached across industries and into every day life.

A couple of lines caught my attention:

  • There are more than 2,000 physicists working on Wall Street developing operational algorithms
  • Massive scale speed trading is dependent on millisecond read & respond rates …
  • So, firms are physically literally locating right next to internet routing hubs to cut transmission times
  • And, of course, there isn’t time for human intervention and control
  • “We may be building whole worlds we don’t really understand, and can’t control.”

Worth listening to this pitch … a very engaging geek who may be onto something big.

click the pic to view video
image

* * * * *
Follow on Twitter @KenHoma        >> Latest Posts

Behavioral analytics … bad when Target does it … OK for political campaigns?

September 19, 2012

A couple of months ago Target got some bad press when it was revealed that the company was mining customers’ purchase histories to slot them into behavioral groups susceptible to tailored promotional pitches.

For example, Target identified purchases that mothers-to-be made early in their pregnancies – sometimes before they even knew they were pregnant.  Think bigger jeans, skin care lotions.

Many folks railed that it was an example of big brother invasion of privacy.

Well, guess what?

Political campaigns are using the same methods that Target was using

The modern science of politics is increasingly based on principles from behavioral psychology and data analytics.

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Campaigns today mine large data bases with mathematical algorithms that slot folks into categories and provide the basis for how people should be approached (or ignored).

According to the WSJ:

Perhaps the most valuable data in modern campaigns comes from statistical “microtargeting” models—the political world’s version of credit scores.

Campaigns gather thousands of data points on voters, culled from what they put on their registration forms, what they have told canvassers who have visited their homes in the past, and information on their buying and lifestyle habits collected by commercial data warehouses.

The campaigns then run algorithms trawling for patterns linking those demographic characteristics to the political attitudes measured in their polling.

Financial institutions run such statistical models to generate predictions about whether a given individual will demonstrate a certain behavior, like paying a bill on time or defaulting on a loan.

Campaigns do the same, only they are interested in predicting political behavior.

So it’s typical now to generate individual scores, presented as a percentage likelihood, that a voter will cast a ballot, support one party or the other, be pro-choice or antiabortion, or respond to a request to volunteer.

These scores now stick to voters as indelibly as credit scores.

And just as a bank officer won’t sign off on a loan without requesting one, a field director for a campaign won’t send a volunteer to a voter’s door without knowing the relevant number.

BTW: It’s Team Obama that’s doing most of this stuff.

Bad for Target … but OK for Obama.

Hmmm

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WSJ source: “The Victory Lab: The Secret Science of Winning Campaigns” by Sasha Issenberg

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HOT: Can problem-solving be learned?

January 10, 2012

Here’s another HOT – Homa Online Tutorial – straight from the classroom to you via the HomaFiles.

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I sometimes get asked: Can problem-solving be learned or is hardwired into people’s DNA?

My view: DNA can help (e.g. raw brainpower can help) but “ordinary” folks can become adept problem-solvers.

How?

By internalizing models  i.e. simplifying frameworks) and protocols (i.e. analytical methods) … and applying them in a variety of contexts.

In doing so, the “devices” can be stored sub-consciously and retrieved consciously to solve problems.

That’s called intuition.

click to view

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