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Unforeseen Consequences in Data Science

Unforeseen Consequences in Data Science After the massive Exxon Valdez oil spill, states passed laws boosting the liability of tanker companies for future spills.  The result was not as intended: fly-by-night companies, whose bankruptcy would not be consequential, took over the trade. In this blog we look at some notable examples of unforeseen consequences ofContinue reading “Unforeseen Consequences in Data Science”

Ethical Practice in Data Mining

Prior to the advent of internet-connected devices, the largest source of big data was public interaction on the internet. Social media users, as well as shoppers and searchers on the internet, make an implicit deal with the big companies that provide these services: users can take advantage of powerful search, shopping and social interaction toolsContinue reading “Ethical Practice in Data Mining”

Examples of Bad Forecasting

In a couple of days, theWall Street Journalwill come out with its November survey of economists’ forecasts. It’s a particularly sensitive time, with elections in a few days and President Trump attacking the Federal Reserve for for raising interest rates. It’s a good time to recall major forecasting gaffes of the past. In 1987, best-sellingContinue reading “Examples of Bad Forecasting”