(Part 6 (of 11) of the Top 10 Data Mining Mistakes, drawn from the Handbook of Statistical Analysis and Data Mining Applications) -John Elder (elder [at] datamininglab [dot] com) I often evaluate promising investment systems, for possible implementation. In one, a Ph.D. consultant, with a couple of books under his belt, had prepared a neural network model for a Chicago bank to forecast interest rate changes. The model was 95% accurate – astonishing given the importance of such rates for much of the economy. The bank board was cautiously ecstatic, and sought a second opinion. My colleagues found
This content is restricted to site members. If you are an existing user, please log in on the right (desktop) or below (mobile). If not, register today and gain free access to original content and industry news. See the details here.
