Lancaster University (09/21/16)
Researchers at Lancaster University's Data Science Institute and the University of Cambridge's Statistical Laboratory in the U.K. are leading a program called StatScale, which is developing a new generation of statistical tools for the purpose of extracting insights from big data. "The ubiquity of sensors in everyday systems and devices...means there is enormous potential for societal and economic benefit if information can be extracted effectively," says Lancaster professor Idris Eckley. "The volume, scale, and structure of this contemporary data poses fundamentally new and exciting statistical challenges that cannot be tackled with traditional methods. Our aim is to develop a paradigm-shift in statistics, providing a new statistical toolbox to tackle, and capitalize on, these huge data streams." Cambridge professor Richard Samworth says the StatScale project will devise the underlying theoretical and methodological bases for next-generation scalable statistical algorithms. Engineering and Physical Sciences Research Council CEO Tom Rodden says the tools stemming from the project are needed to reliably interpret big data to yield economic and societal benefits. The techniques and models that emerge from StatScale will be piloted by industrial partners such as Shell U.K. and the Office for National Statistics so they can be rapidly tested and polished in real-world scenarios.
Researchers at Lancaster University's Data Science Institute and the University of Cambridge's Statistical Laboratory in the U.K. are leading a program called StatScale, which is developing a new generation of statistical tools for the purpose of extracting insights from big data. "The ubiquity of sensors in everyday systems and devices...means there is enormous potential for societal and economic benefit if information can be extracted effectively," says Lancaster professor Idris Eckley. "The volume, scale, and structure of this contemporary data poses fundamentally new and exciting statistical challenges that cannot be tackled with traditional methods. Our aim is to develop a paradigm-shift in statistics, providing a new statistical toolbox to tackle, and capitalize on, these huge data streams." Cambridge professor Richard Samworth says the StatScale project will devise the underlying theoretical and methodological bases for next-generation scalable statistical algorithms. Engineering and Physical Sciences Research Council CEO Tom Rodden says the tools stemming from the project are needed to reliably interpret big data to yield economic and societal benefits. The techniques and models that emerge from StatScale will be piloted by industrial partners such as Shell U.K. and the Office for National Statistics so they can be rapidly tested and polished in real-world scenarios.
