Nearly two years ago, we launched the Bright Data blog platform to serve the Central East Europe region of SAS. It was designed to enable us to discuss and share ideas with customers in the region, around issues such as analytics, customer intelligence, risk and data management. And, indeed, Bright
You have to be able to trust the data that you are working with, whether it’s data processing or analysis that you are involved with. And there is a strong correlation between that trust and data quality. Is it possible to determine data quality without monitoring mechanisms?
“War is 90% information”, said Napoleon Bonaparte. Though the famous French general didn’t live in the information age, he attributed most of his military achievements to having the right information. Today’s business is similar - more and more companies are looking for a competitive advantage in data, more precisely useful
INTERNATIONAL BUSINESS COMMUNICATION STANDARDS is an organisation defining international standards in business communication and presenting proposals relating to designing easy-to-understand business reports and presentations.
In the fifth post in this series we discussed the issues of the use of data mining and machine learning techniques. Today, I will present other commandments related to being prepared to compromise when implementing solutions based on the theory of statistics and being mindful in the interpretation of statistical significance
July 16, 1950, Rio de Janeiro. Jules Rimet, the creator of the soccer world championship, walks through a long dark subway that runs under one of the most famous soccer fields in the world, loaded with poetry, energy and the magic of football: the Maracanà. Above his head, he can
In the fourth post of the 10 Commandments of Applied Econometrics series we discussed the issues of keeping the solutions sensibly simple and applying model validation. Today, I will present another commandment related to data mining techniques. Use data mining reasonably. In the econometric community, data mining is a controversial and highly emotional
Many of the regulations coming into effect after 2010, are the result of the financial crisis that has significantly re-shaped the financial industry worldwide and especially in Europe. One of the major projects that has been undertaken by the statistics team of the ECB, launched in 2011, is the setup
In the third post of the 10 Commandments of Applied Econometrics series we discussed the issue of data exploration. Today, I will present the next commandments: keep the solutions simple and use model validation. Keep the models sensibly simple Striking the right balance between simplicity and sophistication: the models created should be neither
At this point in time, Model Risk Management stands at the forefront of risk management for many of today’s financial services organizations. The majority of financial institutions are in the process of developing Model Risk Management frameworks to mitigate model risk and to become more comfortable with their models. However,
