It’s a fully packed day with earnings from Apple, the start of a Fed meeting, several other major companies reporting, and more concerns about U.S. relations with China. U.S. stocks had a mixed tone in pre-market trading following a similar pattern in Europe and Asia. A development just after the closing bell yesterday could be a factor, as U.S. prosecutors filed criminal charges against Chinese smartphone maker Huawei Technologies. One thing markets tend to dislike is uncertainty, and this might create even more. Asian markets took some heat Tuesday, and the Chinese government told Reuters the charges were unfair……….
Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.After setting a series of records through the late summer and early fall, major U.S. indexes fell sharply after early October, leaving them all in the red for the year.…
To make an impact at the enterprise level, the data science group can’t work in isolation, said Ian Swanson, Oracle vice president of machine learning and artificial intelligence product development, during a presentation at the recent Oracle OpenWorld conference. “In order to do data science right, it has to be a team sport,” said Swanson, former CEO of DataScience.com, which Oracle acquired earlier this year.
One of the data science group’s most valuable teammates is the IT organization, for multiple reasons, he said. The DS group relies on IT to manage and secure the data it uses; support the needed analytics tools; and deliver ready access to scalable bandwidth, compute, and storage capacity to build and train production-oriented analytic models.
Another important ally is the application development team. Developers must incorporate the models DS builds into their “ecosystem” as regular features among the many they use to build production applications, Swanson said.
That points to a significant attribute of production-oriented models: reusability. An ecommerce recommendation engine, for instance, might be reused for forecasting an item’s revenue stream, he said. A key performance indicator for one technology company Swanson worked with on a DS project was “how often that model was used by other parts of the business,” he said.
Line-of-business managers are a valuable constituency as well, because they’re tasked with performing the actions—and getting the results—from applications that use analytic models. An underestimated advantage line-of-business managers bring to the analytics model-building process, Swanson said, is their domain expertise—their experiences working with customers.
As for the top brass, they don’t need “to be involved in every step of the model, but they need to understand how it will be used, the opportunities it offers, the things it can achieve,” Swanson said. “If you’re not involving the top, if they’re not part of the team, data science is not affecting the heart of the business.”
Awash in Tools
Because data science is the new darling of the technology marketplace, the number and variety of analytics tools are staggering. Swanson said he worked with a company whose DS team had accumulated 682 different tools. “How is IT managing 682 different tools?” he wondered.
Still, building predictive analytics models is complicated, requiring a “full stack” of tools, libraries, and languages—preferably open source, which encourages standards and self-service, Swanson said. As DS matures, its practitioners will have to comply with enterprise programming standards, in particular version control. “If you’re writing production code, you should be using some sort of system that encourages working together to follow best engineering practices, such as checking in code and making sure its reproducible,” he said.
But enterprise data science goes beyond programming. “It requires a platform that removes barriers to production, improves collaboration, manages the tool sprawl, provides self-service access to data, and helps with model planning and retention,” Swanson said.
Calling data scientists “the architects and engineers of digital transformation,” Swanson noted that there are DS use cases “in every industry and function,” providing the means to generate “new business channels and new business models.” But achieving those goals requires the will—and a strategy—for extending the work data scientists can do as widely across the enterprise as resources will allow.
“It’s about creating a process that delivers reliable outputs to drive business outcomes,” Swanson said. “You need to put it into action—that’s real DS.”
A red laser pointer shining through a raw chicken carcass may not seem like groundbreaking science, but for veteran technologist Mary Lou Jepsen, it’s worth $28 million in funding for her latest startup, Openwater. Jepsen performed the chicken act as part of her August TED Talk to illustrate how her imaging-tech company is building cost-conscious body-scanning technology by using the same components one might find at a science fair. The laser pointer’s light made both skin and bone of the plucked fowl glow, revealing a tumor just under its flesh……..
As soon as news hit of Michael Bloomberg’s latest donation to Johns Hopkins University, the praise—and the critiques—started rolling in. If you missed it, the billionaire and former New York City mayor announced last week that he would be giving $1.8 billion to his alma mater to increase need-based financial aid for low- and middle-income students. Bloomberg’s goal, he wrote in The New York Times, was that “no qualified high school student should ever be barred entrance to a college based on his or her family’s bank account.” That’s a well-meaning goal, but it misses the mark on promoting economic mobility more broadly, his ultimate aim, and the purported aim of much of education philanthropy………….
Philippines President Rodrigo Duterte has a terrible human rights record. But the average Filipino is doing better under Duterte. When it comes to per-capita gross domestic product (GDP), that is. That’s a measure of the total output of a country divided by the number of people in that country. The Philippines’ per-capita GDP was last recorded at an all-time high of 2,891.36 U.S. dollars in 2017, according to Tradingeconomics.com. That’s well above the average of 1,627.98 USD for the period 1960-2017. Also, Filipinos are doing better under Duterte when per-capita GDP is adjusted by purchasing power parity (PPP). That measure, too, reached a record 7,599.19 U.S. dollars in 2017, well above the average of 4969.71 USD……………..
Move over, U.S. economy: The real action in global forecasting these days lies in figuring out what is happening in the world’s second largest economic powerhouse, China.Wall Street is increasingly worried about slowing growth in foreign economies despite strong economic numbers at home. Federal Reserve Chairman Jerome Powell, too, recently identified weakening overseas economies as a major risk to the U.S. outlook. And these days, when investors say overseas, they really just mean China. After all, other emerging economies are viewed as too small individually for potential domestic crises to have large international spillovers…………….
From an office suite on the 26th floor of the iconic Frost Bank Tower in Austin, Texas, a little-known recruiting firm called Crossover is searching the globe for software engineers. Crossover is looking for anyone who can commit to a 40- or 50-hour workweek, but it has no interest in full-time employees. It wants contract workers who are willing to toil from their homes or even in local cafes. The best people in the world aren’t in your Zip code,” says Andy Tryba, chief executive of Crossover, in a promotional YouTube video. Which, Tryba emphasizes, also means you don’t have to pay them like they are your neighbors. “The world is going to a cloud wage……………
We know how much of a difference one person can make in another’s life. But what if your goals are loftier than reaching just one person? What if you want to make a difference in the lives of a hundred, a thousand, or more? There are millions of young people across this country that need access to opportunity so that they can have successful futures after high school. What if you could play a pivotal role in providing that access? That’s the challenge NAF is working to solve. With over 100,000 students enrolled in NAF academies in underserved high schools across the country, reaching these students wouldn’t be possible without our business partners…………..
“You don’t get a medal for not doing a good job,” says Recode’s executive editor, Kara Swisher. Known as much for her brutal honesty as she is for breaking big news, Swisher is outspoken in her ongoing scrutiny of Silicon Valley, adamant that leaders there could and should be doing better when it comes to moving the needle on diversity, on and off their platforms. “They have a quantum amount of money, a huge amount of power and impact and influence. If you want to live in those worlds, you have to take responsibility,” says Swisher……..