DataRobot Blog

MAY 10, 2022

It has been over a decade since the Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC) published its seminal guidance focused on Model Risk Management ( SR 11-7 & OCC Bulletin 2011-12 , respectively). With this definition of model risk, how do we ensure the models we build are technically correct?

Risk 64

Risk Modeling Machine Learning Data Quality 64

O'Reilly on Data

MAY 11, 2020

Regardless of how we think of ourselves, humans aren’t terribly good at trading off short-term stimulus against long-term benefits. Model Cards for Model Reporting by Mitchell et al. In a highly specific, short-term sense, possibly. In a long-term sense, definitely not. We don’t have to look far to see other feedback loops offline.

Modeling 190

Modeling Advertising Recreation/Entertainment Metrics 190

Domino Data Lab

AUGUST 6, 2021

With a framework and Enterprise MLOps, organizations can manage data science at scale and realize the benefits of Model Risk Management that are received by a wide range of industry verticals. It was first defined by the US Federal Reserve and Office of the Comptroller of the Currency ( SR 11-7 ) in April 2011. What Is Model Risk?

Risk Management 64

Risk Management Risk Modeling Enterprise 64

Rita Sallam

AUGUST 28, 2022

In past Bake-Offs, we used loneliness and happiness data, opioid epidemic data, traffic fatalities, college costs, and homelessness. At a global level the number of people without reliable access to electricity spiked in 2011. Last year, we used global vaccine data , In 2020, we used population health data. EQ Technologic.

Analytics 52

Analytics Data Analytics Cost-Benefit Measurement 52

Occam's Razor

JUNE 4, 2018

Go to the Multi-Channel Funnels folder in Google analytics and look at two other yummy reports: Time Lag and Path Length. They report two dimensions of speed: How long does it take for a human to convert? Yet, this incredible benefit was not a part of YouTube TV’s merchandizing strategy from day one. You should. Add to Basket!

Strategy 124

Strategy Cost-Benefit Testing Sales 124

Domino Data Lab

JANUARY 6, 2019

Recently the World Economic Forum published “ The Future of Jobs Report 2018.” Sharply increasing importance of skills such as technology design and programming highlights the growing demand for various forms of technology competency identified by employers surveyed for this report. In particular, note “Exhibit 6:”. In a word, yes.

Data Science 56

Data Science Machine Learning Reporting Visualization 56

IBM Big Data Hub

NOVEMBER 3, 2023

According to a recent Gartner report (link resides outside ibm.com), SSDs are currently surpassing HDDs as the preferred industry standard for structured data workloads. Cost While both NVMe and SATA have become more affordable in recent years, SATA SSDs are still somewhat more affordable. What is NVMe? For example, a 2.5

Cost-Benefit 76

Cost-Benefit Enterprise Internet of Things Technology 76

IBM Big Data Hub

NOVEMBER 20, 2023

According to a 2023 International Data Corporation (IDC) report (link resides outside ibm.com), NVMe was designed to speed data transfer to systems connected via a PCI express, a serial expansion bus that’s standard for connecting a computer to one or more peripheral devices. What is NVMe?

Internet of Things 72

Internet of Things Enterprise Technology IoT 72

The Unofficial Google Data Science Blog

OCTOBER 12, 2017

Make experimentation cheap and understand the cost of bad decisions. Selection bias played a notable role in the discussion of the avian influenza outbreak of 2011 during which the reported case fatality rate was as high as 80% [2]. The gold standard of evidence is the randomized controlled experiment.

Experimentation 61

Experimentation Testing Statistics Metrics 61

Occam's Razor

NOVEMBER 2, 2015

The benefits are numerous. In my Oct 2011 post, Best Social Media Metrics , I'd created four metrics to quantify this value. Economic Value (EcV) is the value of short and long-term revenue and cost savings. The serious point is that when we choose to invest in Social Media, it comes at a cost. The opportunity cost.

B2B 167

B2B Metrics Testing Recreation/Entertainment 167

Cloudera

OCTOBER 3, 2018

Since 2011, our two companies have each innovated to build better products and win more business. Our partners will benefit from a single standard to build on, and a larger company with more customers to work with. Three years later, the core team of developers working inside Yahoo on Hadoop spun out to found Hortonworks.

Uncertainty 75

Uncertainty IoT Risk Reporting 75

Sisense

MAY 4, 2020

Businesses that use Big Data enjoyed increases in profits of between eight and ten percent as well as a ten percent reduction in overall costs. As long ago as 2011, the McKinsey Global Institute estimated that retailers using data analytics at scale could increase their operating margins by more than 60 percent.

Big Data 78

Big Data Data-driven Snapshot Unstructured Data 78

Smart Data Collective

JUNE 6, 2021

Big data analytics can be used for multiple purposes while offering a wide range of advantages in comparison to other methods of reporting, tracking and management. Customer experience is another key area that can benefit from big data analytics. The operational side of your business could benefit greatly as well.

Big Data 133

Big Data Data Analytics Analytics Cost-Benefit 133

Smart Data Collective

MARCH 16, 2020

The effort is laudable and realistic, but he needs to come up with a solution to contain costs. Deep learning is likely to play an essential role in keeping costs in check. Bernie Sanders needs to talk more about ways that he can control costs before passing Medicare for All. This will be essential for all countries.

Deep Learning 79

Deep Learning Unstructured Data Cost-Benefit Big Data 79