Jean Véronis (3 June 1955 – 8 September 2013) was a French linguist, computer scientist and blogger, and a research professor at Aix-Marseille University. His research interests included natural language processing, text mining and standardisation. He was a founder of the field that is now called digital humanities. In 2006, his blog was listed among the 15 most influential by Le Monde.
Statistical relational learning
Statistical relational learning (SRL) is a subdiscipline of artificial intelligence and machine learning that is concerned with domain models that exhibit both uncertainty (which can be dealt with using statistical methods) and complex, relational structure. Typically, the knowledge representation formalisms developed in SRL use (a subset of) first-order logic to describe relational properties of a domain in a general manner (universal quantification) and draw upon probabilistic graphical models (such as Bayesian networks or Markov networks) to model the uncertainty; some also build upon the methods of inductive logic programming. Significant contributions to the field have been made since the late 1990s. As is evident from the characterization above, the field is not strictly limited to learning aspects; it is equally concerned with reasoning (specifically probabilistic inference) and knowledge representation. Therefore, alternative terms that reflect the main foci of the field include statistical relational learning and reasoning (emphasizing the importance of reasoning) and first-order probabilistic languages (emphasizing the key properties of the languages with which models are represented). Another term that is sometimes used in the literature is relational machine learning (RML). == Canonical tasks == A number of canonical tasks are associated with statistical relational learning, the most common ones being. collective classification, i.e. the (simultaneous) prediction of the class of several objects given objects' attributes and their relations link prediction, i.e. predicting whether or not two or more objects are related link-based clustering, i.e. the grouping of similar objects, where similarity is determined according to the links of an object, and the related task of collaborative filtering, i.e. the filtering for information that is relevant to an entity (where a piece of information is considered relevant to an entity if it is known to be relevant to a similar entity) social network modelling object identification/entity resolution/record linkage, i.e. the identification of equivalent entries in two or more separate databases/datasets == Representation formalisms == One of the fundamental design goals of the representation formalisms developed in SRL is to abstract away from concrete entities and to represent instead general principles that are intended to be universally applicable. Since there are countless ways in which such principles can be represented, many representation formalisms have been proposed in recent years. In the following, some of the more common ones are listed in alphabetical order: Bayesian logic program BLOG model Markov logic networks Multi-entity Bayesian network Probabilistic logic programs Probabilistic relational model – a Probabilistic Relational Model (PRM) is the counterpart of a Bayesian network in statistical relational learning. Probabilistic soft logic Recursive random field Relational Bayesian network Relational dependency network Relational Markov network Relational Kalman filtering
Consumer relationship system
Consumer relationship systems (CRS) are specialized customer relationship management (CRM) software applications that are used to handle a company's dealings with its customers. Current consumer relationship systems integrate the software with telephone and call recording systems as well as with corporate systems for input and reporting. Customers can provide input from the company's website directly into the CRS. These systems are popular because they can deliver the 'voice of the consumer' that contributes to product quality improvement and that ultimately increases corporate profits. Consumer relationship systems that provide automated support as well as advanced systems may have artificial intelligence (AI) interfaces that can extract and analyse data collected, or handle basic questions and complaints. == History == The first CRS was developed in the 1980s. In 1981 Michael Wilke and Robert Thornton founded Wilke/Thornton, Inc in Columbus, Ohio, to develop new CRS software.
Storyful
Storyful (stylized as storyful.) is a social media intelligence company headquartered in Dublin, Ireland that is a subsidiary of News Corp, offering services such as social news monitoring, video licensing, and reputation risk management tools for corporate clients. The startup was launched as the first social media newswire, a content aggregator, verifying news sources and online content in Dublin in 2010 by Mark Little, a former journalist with RTÉ News. Storyful was acquired by News Corp in 2013 for USD$25 million. == Background == Mark Little, who had worked as a television journalist for RTÉ One, founded startup Storyful in Dublin, Ireland, in 2010, as a service that "verified news sources and online content". According to Nieman Lab, Storyful had a reputation for content aggregation as a social news agency—finding, verifying, distributing, licensing, and commercializing user-generated content, social media and online content from social networking services, including videos about stories in the news, such as the Syrian Civil War, Arab Spring protests, as well as "smaller viral moments". Storyful aimed to provide authority through its verification and monitoring tools while providing authenticity through user-generated content. On 20 December 2013 News Corp purchased Storyful for US$25 million and opened a New York office in the same building as Fox News' main studios. Little left Storyful in 2015 and Gavin Sheridan, Storyful's director of innovation left in 2014. News Corp CEO Robert Thomson said that through Storyful, News Corp would "define the opportunities that the digital landscape presents, rather than simply adapt to them." After the acquisition, the company expanded its service to include "commercial and creative work". After Murdoch acquired the company, from 2014 through to February 2018, losses "swelled", requiring a series of cash injections from News Corp. During that time the company expanded aggressively globally with a staff of about 200 worldwide up from about 30 in 2014. According to The Guardian, in 2016, journalists were encouraged by Storyful to use the social media monitoring software called Verify developed by Storyful. By installing Verify's web browser extension on their computers, Verify would inform the journalists when social media content had been "verified and cleared". The Guardian revealed that through the Verify plugin, dozens of staff in four offices had access to the journalists browsing activity without them knowing. This data allowed Storyful to actively monitor its own clients' activities on social media and to "turn it into an internal feed" at Storyful that "updates in real time". In November 2018, when a video circulated by Infowars' Paul Joseph Watson appeared to prove that CNN's Jim Acosta's contact with a White House intern was a physical blow, Storyful was able to prove that the 15-second-long clip had been doctored. According to a 21 January 2019 article in CNN Business, Rob McDonagh, the editor of Storyful's U.S. news team, had proven that one of the viral videos that served as catalysts in the January 2019 Lincoln Memorial confrontation at 18 January 2019 Indigenous Peoples March, was posted by a suspicious account, under the handle @2020fight. McDonagh's team validates videos and posts before adding them to their "digest", distinguishing true stories from those that are not. Storyful attempts to validate each post or video before including it in its digest. McDonagh reviewed previous content from @2020fight's account, and found it suspicious because it had a high follower count, a "highly polarized and yet inconsistent political messaging", an "unusually high rate of tweets", and "the use of someone else's image in the profile photo." reporter Donie O'Sullivan said that the @2020fight video that had been posted on 18 January, which had 2.5 million views by 22 January, was the one that "helped frame the news cycle". Currently the website offers a service by which video can be commercially brokered. == Services == Services include a newswire service—one of their "core pillars"—and social news monitoring. By February 2018, Storyful was developing "risk and reputation monitoring" services through which they would source and verify social news, fact-checking it and contextualising it for corporate clients. They were "developing tech tools" to "explore obscure or closed networks" for their intelligence team. can use to explore obscure or closed networks. They "track deviations in social conversations around brands and organisations and catch potential risks before they blow up. Like an alerts system." The company "released a re-booted version of its Newswire platform in 2018. According to FORA, Storyful was developing new tools to combat fake news online. == Clients == When Storyful was acquired by News Corp in 2013, the company already had the Wall Street Journal, the BBC, New York Times, YouTube, ITN and Channel 4 News as clients. By 2018 their clients included CNN, ABC News and Fox News, The New York Times, the Washington Post, in the United States, the Australian Broadcasting Corporation and all of News Corp’s own publications. Most of their "reputation-conscious corporate customers" clients prefer to not be named.
Content format
A content format is an encoded format for converting a specific type of data to displayable information. Content formats are used in recording and transmission to prepare data for observation or interpretation. This includes both analog and digitized content. Content formats may be recorded and read by either natural or manufactured tools and mechanisms. In addition to converting data to information, a content format may include the encryption and/or scrambling of that information. Multiple content formats may be contained within a single section of a storage medium (e.g. track, disk sector, computer file, document, page, column) or transmitted via a single channel (e.g. wire, carrier wave) of a transmission medium. With multimedia, multiple tracks containing multiple content formats are presented simultaneously. Content formats may either be recorded in secondary signal processing methods such as a software container format (e.g. digital audio, digital video) or recorded in the primary format (e.g. spectrogram, pictogram). Observable data is often known as raw data, or raw content. A primary raw content format may be directly observable (e.g. image, sound, motion, smell, sensation) or physical data which only requires hardware to display it, such as a phonographic needle and diaphragm or a projector lamp and magnifying glass. The following are examples of some common content formats and content format categories (covering: sensory experience, model, and language used for encoding information):
Hierarchical Risk Parity
Hierarchical Risk Parity (HRP) is an advanced investment portfolio optimization framework developed in 2016 by Marcos López de Prado at Guggenheim Partners and Cornell University. HRP is a probabilistic graph-based alternative to the prevailing mean-variance optimization (MVO) framework developed by Harry Markowitz in 1952, and for which he received the Nobel Prize in economic sciences. HRP algorithms apply discrete mathematics and machine learning techniques to create diversified and robust investment portfolios that outperform MVO methods out-of-sample. HRP aims to address the limitations of traditional portfolio construction methods, particularly when dealing with highly correlated assets. Following its publication, HRP has been implemented in numerous open-source libraries, and received multiple extensions. == Key features == HRP portfolios have been proposed as a robust alternative to traditional quadratic optimization methods, including the Critical Line Algorithm (CLA) of Markowitz. HRP addresses three central issues commonly associated with quadratic optimizers: numerical instability, excessive concentration in a small number of assets, and poor out-of-sample performance. HRP leverages techniques from graph theory and machine learning to construct diversified portfolios using only the information embedded in the covariance matrix. Unlike quadratic programming methods, HRP does not require the covariance matrix to be invertible. Consequently, HRP remains applicable even in cases where the covariance matrix is ill-conditioned or singular—conditions under which standard optimizers fail. Monte Carlo simulations indicate that HRP achieves lower out-of-sample variance than CLA, despite the fact that minimizing variance is the explicit optimization objective of CLA. Furthermore, HRP portfolios exhibit lower realized risk compared to those generated by traditional risk parity methodologies. Empirical backtests have demonstrated that HRP would have historically outperformed conventional portfolio construction techniques. Algorithms within the HRP framework are characterized by the following features: Machine Learning Approach: HRP employs hierarchical clustering, a machine learning technique, to group similar assets based on their correlations. This allows the algorithm to identify the underlying hierarchical structure of the portfolio, and avoid that errors spread through the entire network. Risk-Based Allocation: The algorithm allocates capital based on risk, ensuring that assets only compete with similar assets for representation in the portfolio. This approach leads to better diversification across different risk sources, while avoiding the instability associated with noisy returns estimates. Covariance Matrix Handling: Unlike traditional methods like Mean-Variance Optimization, HRP does not require inverting the covariance matrix. This makes it more stable and applicable to portfolios with a large number of assets, particularly when the covariance matrix's condition number is high. == The problem: Markowitz's Curse == Portfolio construction is perhaps the most recurrent financial problem. On a daily basis, investment managers must build portfolios that incorporate their views and forecasts on risks and returns. Despite the theoretical elegance of Markowitz's mean-variance framework, its practical implementation is hindered by several limitations that undermine the reliability of solutions derived from the Critical Line Algorithm (CLA). A principal concern is the high sensitivity of optimal portfolios to small perturbations in expected returns: even minor forecasting errors can result in significantly different allocations (Michaud, 1998). Given the inherent difficulty of producing accurate return forecasts, numerous researchers have advocated for approaches that forgo expected returns entirely and instead rely solely on the covariance structure of asset returns. This has given rise to risk-based allocation methods, among which risk parity is a widely cited example (Jurczenko, 2015). While eliminating return forecasts mitigates some instability, it does not eliminate it. Quadratic programming techniques employed in portfolio optimization require the inversion of a positive-definite covariance matrix, meaning all eigenvalues must be strictly positive. When the matrix is numerically ill-conditioned—that is, when the ratio of its largest to smallest eigenvalue (its condition number) is large—matrix inversion becomes unreliable and prone to significant numerical errors (Bailey and López de Prado, 2012). The condition number of a covariance, correlation, or any symmetric (and thus diagonalizable) matrix is defined as the absolute value of the ratio between its largest and smallest eigenvalues in modulus. The figure on the right presents the sorted eigenvalues of several correlation matrices; the condition number is represented by the ratio of the first to last eigenvalues in each sequence. A diagonal correlation matrix, which is equal to its own inverse, exhibits the minimum possible condition number. As the number of correlated (or multicollinear) assets in a portfolio increases, the condition number rises. At high levels, this leads to severe numerical instability, whereby slight modifications in any matrix entry may result in drastically different inverses. This phenomenon, often referred to as Markowitz’s curse, encapsulates the paradox wherein increased correlation among assets heightens the theoretical need for diversification, yet simultaneously increases the likelihood of unstable optimization outcomes. Consequently, the potential benefits of diversification are frequently overshadowed by estimation errors. These problems are exacerbated as the dimensionality of the covariance matrix increases. The estimation of each covariance term consumes degrees of freedom, and in general, a minimum of 1 2 N ( N + 1 ) {\displaystyle {\frac {1}{2}}N(N+1)} independent and identically distributed (IID) observations is required to estimate a non-singular covariance matrix of dimension N {\displaystyle N} . For example, constructing an invertible covariance matrix of dimension 50 necessitates at least five years of daily IID observations. However, empirical evidence suggests that the correlation structure of financial assets is highly unstable over such extended periods. These difficulties are highlighted by the observation that even naïve allocation strategies—such as equally weighted portfolios—have frequently outperformed both mean-variance and risk-based optimizations in out-of-sample tests (De Miguel et al., 2009). == The solution: Hierarchical Risk Parity == The HRP algorithm addresses Markowitz's curse in three steps: Hierarchical Clustering: Assets are grouped into clusters based on their correlations, forming a hierarchical tree structure. Quasi-Diagonalization: The correlation matrix is reordered based on the clustering results, revealing a block diagonal structure. Recursive Bisection: Weights are assigned to assets through a top-down approach, splitting the portfolio into smaller sub-portfolios and allocating capital based on inverse variance. === Step 1: Hierarchical clustering === Given a T × N {\displaystyle T\times N} matrix of asset returns X {\displaystyle X} , where each column represents a time series of returns for one of N {\displaystyle N} assets over T {\displaystyle T} time periods, a hierarchical clustering process can be used to construct a tree-based representation of asset relationships. First, we compute the N × N {\displaystyle N\times N} correlation matrix ρ = ρ i , j i , j = 1 . . . N {\displaystyle \rho ={\rho _{i,j}}\;{i,j=1\;...\;N}} , where ρ i , j = c o r r ( X i , X j ) {\displaystyle \rho _{i,j}=\mathrm {corr} (X_{i},X_{j})} . From this, a pairwise distance matrix D = d i , j {\displaystyle D={d_{i,j}}} is defined using the transformation: d i , j = 1 2 ( 1 − ρ i , j ) {\displaystyle d_{i,j}={\sqrt {{\frac {1}{2}}(1-\rho _{i,j})}}} This distance function defines a proper metric space, satisfying non-negativity, identity of indiscernibles, symmetry, and the triangle inequality. Next, a secondary distance matrix D ~ = d ~ i , j {\displaystyle {\tilde {D}}={{\tilde {d}}_{i,j}}} is computed, where each entry measures the Euclidean distance between the distance profiles of two assets: d ~ i , j = ∑ n = 1 N ( d n , i − d n , j ) 2 {\displaystyle {\tilde {d}}_{i,j}={\sqrt {\sum _{n=1}^{N}(d_{n,i}-d_{n,j})^{2}}}} While d i , j {\displaystyle d_{i,j}} reflects correlation-based proximity between two assets, d ~ i , j {\displaystyle {\tilde {d}}_{i,j}} quantifies dissimilarity across the entire system, as it depends on all pairwise distances. Hierarchical clustering proceeds by identifying the pair ( i , j ) {\displaystyle (i,j)} with the smallest value of d ~ i , j {\displaystyle {\tilde {d}}_{i,j}} (for i ≠ j {\displaystyle i\neq j} ), and forming a new cluster u [ 1 ] = ( i , j ) {\displaystyle u[1]=(i,j)} .
Data stream management system
A data stream management system (DSMS) is a computer software system to manage continuous data streams. It is similar to a database management system (DBMS), which is, however, designed for static data in conventional databases. A DBMS also offers a flexible query processing so that the information needed can be expressed using queries. However, in contrast to a DBMS, a DSMS executes a continuous query that is not only performed once, but is permanently installed. Therefore, the query is continuously executed until it is explicitly uninstalled. Since most DSMS are data-driven, a continuous query produces new results as long as new data arrive at the system. This basic concept is similar to complex event processing so that both technologies are partially coalescing. == Functional principle == One important feature of a DSMS is the possibility to handle potentially infinite and rapidly changing data streams by offering flexible processing at the same time, although there are only limited resources such as main memory. The following table provides various principles of DSMS and compares them to traditional DBMS. == Processing and streaming models == One of the biggest challenges for a DSMS is to handle potentially infinite data streams using a fixed amount of memory and no random access to the data. There are different approaches to limit the amount of data in one pass, which can be divided into two classes. For the one hand, there are compression techniques that try to summarize the data and for the other hand there are window techniques that try to portion the data into (finite) parts. === Synopses === The idea behind compression techniques is to maintain only a synopsis of the data, but not all (raw) data points of the data stream. The algorithms range from selecting random data points called sampling to summarization using histograms, wavelets or sketching. One simple example of a compression is the continuous calculation of an average. Instead of memorizing each data point, the synopsis only holds the sum and the number of items. The average can be calculated by dividing the sum by the number. However, it should be mentioned that synopses cannot reflect the data accurately. Thus, a processing that is based on synopses may produce inaccurate results. === Windows === Instead of using synopses to compress the characteristics of the whole data streams, window techniques only look on a portion of the data. This approach is motivated by the idea that only the most recent data are relevant. Therefore, a window continuously cuts out a part of the data stream, e.g. the last ten data stream elements, and only considers these elements during the processing. There are different kinds of such windows like sliding windows that are similar to FIFO lists or tumbling windows that cut out disjoint parts. Furthermore, the windows can also be differentiated into element-based windows, e.g., to consider the last ten elements, or time-based windows, e.g., to consider the last ten seconds of data. There are also different approaches to implementing windows. There are, for example, approaches that use timestamps or time intervals for system-wide windows or buffer-based windows for each single processing step. Sliding-window query processing is also suitable to being implemented in parallel processors by exploiting parallelism between different windows and/or within each window extent. == Query processing == Since there are a lot of prototypes, there is no standardized architecture. However, most DSMS are based on the query processing in DBMS by using declarative languages to express queries, which are translated into a plan of operators. These plans can be optimized and executed. A query processing often consists of the following steps. === Formulation of continuous queries === The formulation of queries is mostly done using declarative languages like SQL in DBMS. Since there are no standardized query languages to express continuous queries, there are a lot of languages and variations. However, most of them are based on SQL, such as the Continuous Query Language (CQL), StreamSQL and ESP. There are also graphical approaches where each processing step is a box and the processing flow is expressed by arrows between the boxes. The language strongly depends on the processing model. For example, if windows are used for the processing, the definition of a window has to be expressed. In StreamSQL, a query with a sliding window for the last 10 elements looks like follows: This stream continuously calculates the average value of "price" of the last 10 tuples, but only considers those tuples whose prices are greater than 100.0. In the next step, the declarative query is translated into a logical query plan. A query plan is a directed graph where the nodes are operators and the edges describe the processing flow. Each operator in the query plan encapsulates the semantic of a specific operation, such as filtering or aggregation. In DSMSs that process relational data streams, the operators are equal or similar to the operators of the Relational algebra, so that there are operators for selection, projection, join, and set operations. This operator concept allows the very flexible and versatile processing of a DSMS. === Optimization of queries === The logical query plan can be optimized, which strongly depends on the streaming model. The basic concepts for optimizing continuous queries are equal to those from database systems. If there are relational data streams and the logical query plan is based on relational operators from the Relational algebra, a query optimizer can use the algebraic equivalences to optimize the plan. These may be, for example, to push selection operators down to the sources, because they are not so computationally intensive like join operators. Furthermore, there are also cost-based optimization techniques like in DBMS, where a query plan with the lowest costs is chosen from different equivalent query plans. One example is to choose the order of two successive join operators. In DBMS this decision is mostly done by certain statistics of the involved databases. But, since the data of a data streams is unknown in advance, there are no such statistics in a DSMS. However, it is possible to observe a data stream for a certain time to obtain some statistics. Using these statistics, the query can also be optimized later. So, in contrast to a DBMS, some DSMS allows to optimize the query even during runtime. Therefore, a DSMS needs some plan migration strategies to replace a running query plan with a new one. === Transformation of queries === Since a logical operator is only responsible for the semantics of an operation but does not consist of any algorithms, the logical query plan must be transformed into an executable counterpart. This is called a physical query plan. The distinction between a logical and a physical operator plan allows more than one implementation for the same logical operator. The join, for example, is logically the same, although it can be implemented by different algorithms like a Nested loop join or a Sort-merge join. Notice, these algorithms also strongly depend on the used stream and processing model. Finally, the query is available as a physical query plan. === Execution of queries === Since the physical query plan consists of executable algorithms, it can be directly executed. For this, the physical query plan is installed into the system. The bottom of the graph (of the query plan) is connected to the incoming sources, which can be everything like connectors to sensors. The top of the graph is connected to the outgoing sinks, which may be for example a visualization. Since most DSMSs are data-driven, a query is executed by pushing the incoming data elements from the source through the query plan to the sink. Each time when a data element passes an operator, the operator performs its specific operation on the data element and forwards the result to all successive operators. == Examples == AURORA, StreamBase Systems, Inc. Archived 23 March 2009 at the Wayback Machine Hortonworks DataFlow IBM Streams NIAGARA Query Engine NiagaraST: A Research Data Stream Management System at Portland State University Odysseus, an open source Java-based framework for Data Stream Management Systems Pipeline DB PIPES Archived 24 December 2016 at the Wayback Machine, webMethods Business Events QStream SAS Event Stream Processing SQLstream STREAM StreamGlobe StreamInsight TelegraphCQ WSO2 Stream Processor