Climate change heats up ’#quants' v old school forecast battle | Reuters
▻http://in.reuters.com/article/2014/06/10/us-commodities-weather-trading-idINKBN0EL0ZY20140610
Applied #mathematicians, some of whom once worked on Wall Street as market-predicting “quants,” see the future in patterns of historical data. After years of tinkering, they say their weather algorithms can blow away traditional forecasting.
hé oui la météo à papa c’est fini, maintenant ça se joue à Wall Street…
“It has taken me two solid decades to get something useful,” said data miner Ria Persad, the president of StatWeather.
“Weathermen are looking at what’s happening now - they are looking at current data to get to the future,” said Persad. “They aren’t actually studying this 120 years of data log to extract patterns like we are to draw statistical lessons.”