Remove 2008 Remove Modeling Remove Statistics
article thumbnail

What is Model Risk and Why Does it Matter?

DataRobot Blog

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. When business decisions are made based on bad models, the consequences can be severe. As machine learning advances globally, we can only expect the focus on model risk to continue to increase.

Risk 111
article thumbnail

Smarten Augmented Analytics Receives CERT-IN Certification for Its Products and Services!

Smarten

It was initiated in 2004 by the Department of Information Technology for implementing the provisions of the 2008 Information Technology Amendment Act. All of these tools are designed for business users with average skills and require no special skills or knowledge of statistical analysis or support from IT or data scientists.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Our quest for robust time series forecasting at scale

The Unofficial Google Data Science Blog

Selection and aggregation of forecasts from an ensemble of models to produce a final forecast. Calendaring was therefore an explicit feature of models within our framework, and we made considerable investment in maintaining detailed regional calendars. Adjustments for effects: holiday, seasonality, and day-of-week effects.

article thumbnail

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 6: The Impact of COVID-19 on Supply Chain Management

bridgei2i

You know the markets shake and the accompanying Swine Flu epidemic of 2015 and 2016, the Japanese tsunami and the Thailand floods in 2011 that shook up the high-tech value chain quite a bit, the great financial crisis and the accompanying H1N1 outbreak in 2008-2009, MERS and SARS before that in 2003.

article thumbnail

Managing machine learning in the enterprise: Lessons from banking and health care

O'Reilly on Data

In recent posts, we described requisite foundational technologies needed to sustain machine learning practices within organizations, and specialized tools for model development, model governance, and model operations/testing/monitoring. Sources of model risk. Model risk management. Image by Ben Lorica.

article thumbnail

Data Science, Past & Future

Domino Data Lab

how “the business executives who are seeing the value of data science and being model-informed, they are the ones who are doubling down on their bets now, and they’re investing a lot more money.” He was saying this doesn’t belong just in statistics. Key highlights from the session include. Transcript. Tukey did this paper.

article thumbnail

Data Observability and Monitoring with DataOps

DataKitchen

Since 2008, teams working for our founding team and our customers have delivered 100s of millions of data sets, dashboards, and models with almost no errors. Best practices include continuous monitoring of machine learning models for degradations in accuracy. . Statistical Process Control. Tie tests to alerts.

Testing 214