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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
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Automating Model Risk Compliance: Model Validation

DataRobot Blog

Last time , we discussed the steps that a modeler must pay attention to when building out ML models to be utilized within the financial institution. In summary, to ensure that they have built a robust model, modelers must make certain that they have designed the model in a way that is backed by research and industry-adopted practices.

Risk 52
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A history of tech adaptation for today’s changing business needs

CIO Business Intelligence

The digitization of internal processes came in 2011, when the company decided to streamline its internal data management, quality control, project management, and communication processes through digital tools and platforms. js and React.js.

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The Top Three Entangled Trends in Data Architectures: Data Mesh, Data Fabric, and Hybrid Architectures

Cloudera

Each of these trends claim to be complete models for their data architectures to solve the “everything everywhere all at once” problem. This data model is also the structure of the contract that is defined between the producers and consumers of the data. Figure 2.

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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. So that’s one.

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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.

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The Lean Analytics Cycle: Metrics > Hypothesis > Experiment > Act

Occam's Razor

Let's listen in as Alistair discusses the lean analytics model… The Lean Analytics Cycle is a simple, four-step process that shows you how to improve a part of your business. Another way to find the metric you want to change is to look at your business model. The business model also tells you what the metric should be.

Metrics 156