the signal and the noise why so many predictions fail but some dont

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The Signal And The Noise

Author : Nate Silver
ISBN : 9781101595954
Genre : Political Science
File Size : 75. 89 MB
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One of Wall Street Journal's Best Ten Works of Nonfiction in 2012 New York Times Bestseller “Not so different in spirit from the way public intellectuals like John Kenneth Galbraith once shaped discussions of economic policy and public figures like Walter Cronkite helped sway opinion on the Vietnam War…could turn out to be one of the more momentous books of the decade.” —New York Times Book Review "Nate Silver's The Signal and the Noise is The Soul of a New Machine for the 21st century." —Rachel Maddow, author of Drift "A serious treatise about the craft of prediction—without academic mathematics—cheerily aimed at lay readers. Silver's coverage is polymathic, ranging from poker and earthquakes to climate change and terrorism." —New York Review of Books Nate Silver built an innovative system for predicting baseball performance, predicted the 2008 election within a hair’s breadth, and became a national sensation as a blogger—all by the time he was thirty. He solidified his standing as the nation's foremost political forecaster with his near perfect prediction of the 2012 election. Silver is the founder and editor in chief of FiveThirtyEight.com. Drawing on his own groundbreaking work, Silver examines the world of prediction, investigating how we can distinguish a true signal from a universe of noisy data. Most predictions fail, often at great cost to society, because most of us have a poor understanding of probability and uncertainty. Both experts and laypeople mistake more confident predictions for more accurate ones. But overconfidence is often the reason for failure. If our appreciation of uncertainty improves, our predictions can get better too. This is the “prediction paradox”: The more humility we have about our ability to make predictions, the more successful we can be in planning for the future. In keeping with his own aim to seek truth from data, Silver visits the most successful forecasters in a range of areas, from hurricanes to baseball, from the poker table to the stock market, from Capitol Hill to the NBA. He explains and evaluates how these forecasters think and what bonds they share. What lies behind their success? Are they good—or just lucky? What patterns have they unraveled? And are their forecasts really right? He explores unanticipated commonalities and exposes unexpected juxtapositions. And sometimes, it is not so much how good a prediction is in an absolute sense that matters but how good it is relative to the competition. In other cases, prediction is still a very rudimentary—and dangerous—science. Silver observes that the most accurate forecasters tend to have a superior command of probability, and they tend to be both humble and hardworking. They distinguish the predictable from the unpredictable, and they notice a thousand little details that lead them closer to the truth. Because of their appreciation of probability, they can distinguish the signal from the noise. With everything from the health of the global economy to our ability to fight terrorism dependent on the quality of our predictions, Nate Silver’s insights are an essential read. From the Trade Paperback edition.

The Signal And The Noise

Author : Nate Silver
ISBN : 9781846147531
Genre : Mathematics
File Size : 86. 85 MB
Format : PDF, Mobi
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Every time we choose a route to work, decide whether to go on a second date, or set aside money for a rainy day, we are making a prediction about the future. Yet from the global financial crisis to 9/11 to the Fukushima disaster, we often fail to foresee hugely significant events. In The Signal and the Noise, the New York Times' political forecaster and statistics guru Nate Silver explores the art of prediction, revealing how we can all build a better crystal ball. In his quest to distinguish the true signal from a universe of noisy data, Silver visits hundreds of expert forecasters, in fields ranging from the stock market to the poker table, from earthquakes to terrorism. What lies behind their success? And why do so many predictions still fail? By analysing the rare prescient forecasts, and applying a more quantitative lens to everyday life, Silver distils the essential lessons of prediction. We live in an increasingly data-driven world, but it is harder than ever to detect the true patterns amid the noise of information. In this dazzling insider's tour of the world of forecasting, Silver reveals how we can all develop better foresight in our everyday lives.

The Signal And The Noise In 30 Minutes

Author :
ISBN : 1623150523
Genre : Bayesian statistical decision theory
File Size : 39. 67 MB
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The Signal and the Noise …in 30 Minutes is the essential guide to quickly understanding the fundamental components of prediction outlined in Nate Silver’s bestselling book, The Signal and the Noise: Why So Many Predictions Fail ¬– but Some Don’t. In The Signal and the Noise bestselling author, political analyst, and statistician Nate Silver investigates the fundamentals of forecasting and answers why too much information can be misleading. Exploring a variety of fields, ranging from politics to poker to Wall Street and global warming, Silver explores why some forecasts are successful and, perhaps more telling, why so many fail. Stressing the importance of acknowledging personal bias, Silver posits that better forecasters possess a superior understanding of uncertainty and are driven by truth and humility while overconfidence can lead to failure. Presenting a framework for what constitutes a good forecast, Silver provides insight and tools for understanding how to successfully utilize Big Data and decipher meaningful signals from random noise.

The Signal And The Noise

Author : Nate Silver
ISBN : 159420411X
Genre : Business & Economics
File Size : 64. 56 MB
Format : PDF, ePub, Docs
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The founder of FiveThirtyEight.com challenges myths about predictions in subjects ranging from the financial market and weather to sports and politics, profiling the world of prediction to explain how readers can distinguish true signals from hype, in a report that also reveals the sources and societal costs of wrongful predictions.

The Theory That Would Not Die

Author : Sharon Bertsch McGrayne
ISBN : 9780300175097
Genre : Mathematics
File Size : 86. 80 MB
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Bayes rule appears to be a straightforward, one-line theorem: by updating our initial beliefs with objective new information, we get a new and improved belief. To its adherents, it is an elegant statement about learning from experience. To its opponents, it is subjectivity run amok. In the first-ever account of Bayes' rule for general readers, Sharon Bertsch McGrayne explores this controversial theorem and the human obsessions surrounding it. She traces its discovery by an amateur mathematician in the 1740s through its development into roughly its modern form by French scientist Pierre Simon Laplace. She reveals why respected statisticians rendered it professionally taboo for 150 years at the same time that practitioners relied on it to solve crises involving great uncertainty and scanty information, even breaking Germany's Enigma code during World War II, and explains how the advent of off-the-shelf computer technology in the 1980s proved to be a game-changer. Today, Bayes' rule is used everywhere from DNA de-coding to Homeland Security.Drawing on primary source material and interviews with statisticians and other scientists, The Theory That Would Not Die is the riveting account of how a seemingly simple theorem ignited one of the greatest controversies of all time.

Superforecasting

Author : Philip Tetlock
ISBN : 9781448166596
Genre : Social Science
File Size : 77. 25 MB
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What if we could improve our ability to predict the future? Everything we do involves forecasts about how the future will unfold. Whether buying a new house or changing job, designing a new product or getting married, our decisions are governed by implicit predictions of how things are likely to turn out. The problem is, we're not very good at it. In a landmark, twenty-year study, Wharton professor Philip Tetlock showed that the average expert was only slightly better at predicting the future than a layperson using random guesswork. Tetlock's latest project – an unprecedented, government-funded forecasting tournament involving over a million individual predictions – has since shown that there are, however, some people with real, demonstrable foresight. These are ordinary people, from former ballroom dancers to retired computer programmers, who have an extraordinary ability to predict the future with a degree of accuracy 60% greater than average. They are superforecasters. In Superforecasting, Tetlock and his co-author Dan Gardner offer a fascinating insight into what we can learn from this elite group. They show the methods used by these superforecasters which enable them to outperform even professional intelligence analysts with access to classified data. And they offer practical advice on how we can all use these methods for our own benefit – whether in business, in international affairs, or in everyday life.

Scoring Points

Author : Clive Humby
ISBN : 0749447524
Genre : Business & Economics
File Size : 88. 52 MB
Format : PDF
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Scoring Points tells the dramatic story of how Tesco Clubcard was conceived, launched and developed. Clive Humby and Terry Hunt, two major influences behind Tesco's spectacular transformation, and Tim Phillips, a leading business writer and broadcaster, bring us a compelling behind-the-scenes account of Clubcard: the successes, the failures and the lessons learnt. The authors show how Tesco made customer loyalty marketing work, when almost every other loyalty programme failed, the benefits for Tesco and its customers. Scoring Points is one of the seminal marketing books of the last decade. A fascinating tale of what can be achieved through vision, a strong team ethic and a company-wide commitment to customer satisfaction, it is an inspirational read for anyone in business.

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