Big data couldn't get the World Cup results right

#artificialintelligence

Goldman Sachs' statistical model for the World Cup sounded impressive: The investment bank mined data about the teams and individual players, used artificial intelligence to predict the factors that might affect game scores and simulated 1 million possible evolutions of the tournament. The model was updated as the games unfolded, and it was wrong again and again. It certainly didn't predict the final between France and Croatia. The failure to accurately predict the outcome of soccer games is a good opportunity to laugh at the hubris of elite bankers, who use similar complex models for investment decisions. Tom Pair, founder of the Upper Left Opportunities Fund, a hedge fund, tweeted recently: "Of course, past data don't always predict the future; Goldman Sachs never tells clients to make decisions solely on the basis of its models' findings.


Big data couldn't get the World Cup results right

#artificialintelligence

Goldman Sachs' statistical model for the World Cup sounded impressive: The investment bank mined data about the teams and individual players, used artificial intelligence to predict the factors that might affect game scores and simulated 1 million possible evolutions of the tournament. The model was updated as the games unfolded, and it was wrong again and again. It certainly didn't predict the final between France and Croatia. The failure to accurately predict the outcome of soccer games is a good opportunity to laugh at the hubris of elite bankers, who use similar complex models for investment decisions. Tom Pair, founder of the Upper Left Opportunities Fund, a hedge fund, tweeted recently: "Of course, past data don't always predict the future; Goldman Sachs never tells clients to make decisions solely on the basis of its models' findings.


Updated (5): Big Data Summit: how technology today can affect tomorrow's future - The Malta Independent

#artificialintelligence

Charles Radclyffe, a serial entrepreneur who has focused his career on solving tough technology challenges for some of the world's largest organisations, spoke about data philosophy and mentioned how technology is slowly changing the world and could cause a wealth distribution imbalance. The Big Data Summit (Malta) is the first event of its kind to be held in Malta aimed at bringing together an international group of business leaders, policy makers and technology leaders to discuss the future of the global economy and how big data and advanced analytics is already transforming the business world as we know it. This major event brings together thought leaders from some of the key players in Big Data today including Tableau, Qlik, Microsoft, Zendesk and Salesforce as well as accomplished independent international speakers from a variety of industries, including professional services, IT, Telco, iGaming, Academia as well as areas where some of the major breakthroughs are being made like Machine Learning and Artificial Intelligence. Mr Radclyffe spoke about data philosophy and data ethics. He said that the consequence of what we are doing through technology today will have the furthest reaching impact to date.


Understanding Behavioral Economics to Change Behaviors with Big Data

@machinelearnbot

My good friend Vinnie participates in an automobile insurance program that rewards him for good driving behaviors; the better driving behaviors he exhibits, the more money he saves on insurance. You stick a device into the vehicle's diagnostic port (usually under the steering wheel in most vehicles manufactured after 1996), and the automobile insurance company tracks your driving behaviors and offers you automobile insurance discounts based upon the quality of your driving behaviors. The program actually "grades" driving behaviors including acceleration, turning, speed and braking, and once a month sends a report card on the past month's driving performance (see Report Card in Figure 1).


World Cup 2018: Can Big Data Analytics Save Germany's Tournament?

Forbes - Tech

Carlos Vela of Mexico is seen during the 2018 FIFA World Cup Russia group F match between Germany and Mexico at Luzhniki Stadium on June 17, 2018 in Moscow, Russia. Germany's 1-0 defeat at the hands of Mexico was one of the surprises of the first week of the 2018 World Cup. The result leaves them needing points from their remaining two matches, or the holders will face an early exit from the competition. Ahead of the crunch match with Sweden in Sochi this Saturday, you can be sure that Germany will be using what it considers to be its "Virtual 12th man" in a bid to gain any sort of advantage. The German FA (DFB) has been working with tech giant SAP for five years, using and co-developing software and analytics tools to manage team affairs and crunch data that can provide insight on how to defeat its opponents.