Trading and predictive analytics

I attended today’s class in the course Trading Strategies and Systems offered by Prof Vasant Dhar from NYU Stern School of Business. Luckily, Vasant is offering the elective course here at the Indian School of Business, so no need for transatlantic travel. The topic of this class was the use of news in trading. I won’t disclose any trade secrets (you’ll have to attend the class for that), but here’s my point: Trading is a striking example of the distinction between explanation and prediction. Generally, techniques are based on correlations and on “blackbox” predictive models such as neural nets. In particular, text mining and … Continue reading Trading and predictive analytics

Data visualization in the media: Interesting video

A colleague who knows my fascination with data visualization pointed me to a recent interesting video created by Geoff McGhee on Journalism in the Age of Data. In this 8-part video, he interviews media people who create visualizations for their websites at the New York Times, Washington Post, CNBC, and more. It is interesting to see their view of why interactive visualization might be useful to their audience, and how it is linked to “good journalism”. Also interviewed are a few visualization interface developers (e.g., IBM’s Many Eyes designers) as well as Infographics experts and participants at the major Inforgraphics … Continue reading Data visualization in the media: Interesting video

Beer and … crime

I often glimpse the local newspapers while visiting a foreign country (as long as it is in a language I can read). Yesterday, the Australian Herald Sun had the article “Drop in light beer sales blamed for surge in street violence“. The facts presented: “Light beer sales have fallen 15% in seven years, while street crime has soared 43%”. More specifically: “Police statistics show street assaults rose from 6400 in 2000-01 to more than 9000 in 2007-08. At the same time, Victorians’ thirst for light beer dried up.” The interpretation by health officials: “there was a definite connection between the … Continue reading Beer and … crime