Dr. Doom and data mining

Last month The New York Times featured an article about Dr. Doom: Economics professor “Roubini, a respected but formerly obscure academic, has become a major figure in the public debate about the economy: the seer who saw it coming.” This article caught my statistician eye due to the description of “data” and “models”. While economists in the article portray Roubini as not using data and econometric models, a careful read shows that he actually does use data and models, but perhaps unusual data and unusual models! Here are two interesting quotes: “When I weigh evidence,” he told me, “I’m drawing … Continue reading Dr. Doom and data mining

Data mining competition season

Those who’ve been following my postings probably recall “competition season” when all of a sudden there are multiple new interesting datasets out there, each framing a business problem that requires the combination of data mining and creativity. Two such competitions are the SAS Data Mining Shootout and the 2008 Neural Forecasting Competition. The SAS problem concerns revenue management for an airline who wants to improve their customer satisfaction. The NN5 competition is about forecasting cash withdrawals from ATMs. Here are the similarities between the two competitions: they both provide real data and reasonably real business problems. Now to a more … Continue reading Data mining competition season