Predictive algorithm and what’s so great about the Netflix Prize

AlgorithmWell, on the surface, nothing much. But it represent increasing interest on a very promising field.

It’s million dollar prize for computer expert and statistician that can improve a set of algorithm (a set of rules to be executed by computer).

Netflix, the companies who pay for this $1 million reward, is a movie rental company in USA (trying to establish international presence). You choose movies on their website, they send the movie to you by mail, you send back the movies when you’re done with the movies you borrow.

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Miskonsepsi tentang suku bunga deposito (dan tabungan)

broken money

(This feature serves as a mini update to my post on Time Deposit Interest Rate, the previous post can be found by clicking this link)

I had had strong…’prejudice’ regarding interest rates. I used to assume that interest rates from small banks is usually higher than those of larger banks, that larger banks are laggards when it comes to competing on interest rates.

Yet when I went to the website of two largest bank in Indonesia in Friday last week (July 3rd 2009), i found a surprise.

The interest rates of these 2 banks is actually as competitive or even more competitive than the bank i’m using now for my time deposit (the account statement indicates that my interest rate is 6.75%)

I was perplexed…how can this be? i thought i was having a good deal with the smaller bank…

I thought i was trading a slight amount of security with a larger amount of interest rate.

Turns out that i was wrong…i had been placing my money on the wrong basket.

Wanna see what i found out?

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