The End of Theory: The Data Deluge Makes the Scientific Method Obsolete

Recently I came across a article in Wired with very interesting point of view about science and application of big data and analytics in it. The author suggests that the theories we build cannot be tested any more that is making further development of science impossible and new approach has to be applied among other things and I do recommend it for all of you interested in science, statistics and modelling.

Master Class: Dynamically Identify The Column And The Row For A Value In A Matrix

Need to dynamically find the position of a value in a matrix? I have came across this problem recently for the purposes of identification of some values in a huge market performance matrix. Please check my solution of this problem.

How Different is Big Data Than Just Data

One of the latest buzz words is "big data". Success stories about it are abundant and many people suddenly became big data experts and "data scientists". But where is this big data and how different it is from the data we know?

Are We Forgetting Something When Estimating Model Accuracy?

Expectations for model accuracy are usually high despite its  purpose. We get in the trap of thinking that the availability of huge data, powerful computing and advanced math methods would result in very accurate results about virtually everything. Hollywood also has its role. But what is the reality? The accuracy of a model is limited by the nature of the entity that is limited, methods employed and the accuracy of the input data. Very often we fail to realize the full extent of influence of the last one and even more so in models and calculations with many calculation steps.