Securities and Exchange Commission(SEC) started to focus on data-driven assessment tools within the Office of Risk Assessment, which is located within the Division of Economic and Risk Analysis (DERA). The new office will coordinate the agency’s efforts to use of data tools to analyze risk and develop models to support activities across the SEC. Continue reading SEC Launched A New Office to Focus on Data-driven Analytics
According to The Financial Times, a Ladbrokes spokesman argued earlier this week that Thursday’s Scottish referendum would be the biggest political betting event in history, noting that his firm had taken more money in bets than the last British general election and American presidential election combined. A research suggests that, instead of asking who they plan to vote … Continue reading Scotland’s ‘No’ Vote: A Loss for Pollsters and a Win for Betting Markets
Rather than forecasting how ordinary voters behave, firms are now offering to make predictions, based on analysing big data, of how the various candidates would vote if elected to Congress or a state legislature. FiscalNote, which was founded last year, claims that its self-learning algorithm can—based on public data such as legislative votes, electoral statistics … Continue reading Predicting Political Outcomes Using Big Data
Google recently announced a new open-source R package, CausalImpact, for estimating causal effects in time series. With a designed intervention on a time series, CausalImpact is used to predict the counterfactual, i.e., how the response metric would have evolved after the intervention if the intervention had not occurred. Continue reading Google Released A New Open-Source Package for Causal Analysis
IBM Watson is applying its super computing capability everywhere. Now it is helping policemen do their jobs, but it could have an even greater impact in the way law enforcement itself is carried out. Watson’s data-processing abilities have enormous potential to speed up investigations, which generate thousands of pages of paperwork. Continue reading IBM Watson is Getting Started in Law Enforcement
Financed by Microsoft co-founder Paul Allen, Mr. Etzioni, chief executive of the recently created Allen Institute for Artificial Intelligence, is leading a growing team of 30 researchers. They are working on systems that move from data to knowledge to theories, and then can reason. Continue reading The future of Data Science in AI
There is no doubt that, with more data and better tools, insurance industry is entering a new period which large-scale organizational changes are needed. The report from McKinsey & Company presents a possible framework with five components. Continue reading How will Data Science Affect the Insurance Industry?