stock crash

“Buffet” says Sell!

A data error on the Nasdeq exchange caused chaos last week Monday, as the introduction of test data into the live systems vastly impacted the shares prices of a number of tech companies. Two notable examples: Amazon prices crashed by 87%, while Zynga bounced up by an amazing 3,292% In this case, the error can…

1-10-100 rule

The 1-10-100 rule

The 1-10-100 rule is a quality management concept developed by G. Loabovitz and Y. Chang that is used to quantify the hidden costs of poor quality. When relating the concept to data quality it must be recognized that the principle, rather than the exact numbers will apply. So how does it work? The 1-10-100 rule…

Couch too big

Is data migration like moving house?

Would you move into a new house without checking that it would fit your furniture? Many of us had the experience of trying to fit a comfy couch, or a large bed, into a room that is too small for it. It’s frustrating. Option 1: Move on to a bigger house. Option 2: Throw out…

statistics

Big Data are not only Big but Complex, Messy, Badly Sampled, and Creepy

In researching last weeks post, I came across this great lecture by Professor Thomas Lumley Prof Lumley discusses the role that statisticians must play in data science – in an entertaining and understandable way. Great piece for any aspiring data scientist, or the interested lay person. Data Science: Will Computer Science and Informatics Eat Our Lunch?  Mainstream…