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There are two ways to make large datasets useful

Ive spent the majority of my career building technologies that try to do useful things with large datasets. * One of the most important lessons Ive learned is that there are only two ways to make useful products out of large data sets. Trading systems that hedge funds use are also often fault tolerant: if you make money 80% of the time and lose it 20% of the time, you can still usually have a profitable system. Because we knew automation would only get us 80-90% accuracy, we built 1) systems to estimate confidence levels in our ratings so we would know what to manually review, and 2) a workflow system so that our staff, an offshore team we hired, and users could flag or fixinaccuracies.

Author: Publication Date: Crawl Date: Source: Topic: Contributor: Type: Language: Format:
April 14, 2012 April 15, 2012 Business Insider via Google News Applications MachineLearning NewsFinder Text English HTML

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