Monday, January 21, 2013

We MUST, says the President

In his inaugural address today the American president told his fellow countrymen that they “MUST”. The word cloud generated by the text of his speech today highlights the following keywords: must, people, time, and journey.  It reads like a work order for Americans, so they “MUST” get to work.

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The text of the speech is reproduced below.

“Vice-President Biden, Mr. Chief Justice, Members of the United States Congress, distinguished guests, and fellow citizens:

Each time we gather to inaugurate a president, we bear witness to the enduring strength of our Constitution. We affirm the promise of our democracy. We recall that what binds this nation together is not the colors of our skin or the tenets of our faith or the origins of our names. What makes us exceptional – what makes us American – is our allegiance to an idea, articulated in a declaration made more than two centuries ago:

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness.”

Today we continue a never-ending journey, to bridge the meaning of those words with the realities of our time. For history tells us that while these truths may be self-evident, they have never been self-executing; that while freedom is a gift from God, it must be secured by His people here on Earth. The patriots of 1776 did not fight to replace the tyranny of a king with the privileges of a few or the rule of a mob. They gave to us a Republic, a government of, and by, and for the people, entrusting each generation to keep safe our founding creed.

For more than two hundred years, we have.

Through blood drawn by lash and blood drawn by sword, we learned that no union founded on the principles of liberty and equality could survive half-slave and half-free. We made ourselves anew, and vowed to move forward together.

Together, we determined that a modern economy requires railroads and highways to speed travel and commerce; schools and colleges to train our workers.

Together, we discovered that a free market only thrives when there are rules to ensure competition and fair play.

Together, we resolved that a great nation must care for the vulnerable, and protect its people from life’s worst hazards and misfortune.

Through it all, we have never relinquished our skepticism of central authority, nor have we succumbed to the fiction that all society’s ills can be cured through government alone. Our celebration of initiative and enterprise; our insistence on hard work and personal responsibility, are constants in our character.

But we have always understood that when times change, so must we; that fidelity to our founding principles requires new responses to new challenges; that preserving our individual freedoms ultimately requires collective action. For the American people can no more meet the demands of today’s world by acting alone than American soldiers could have met the forces of fascism or communism with muskets and militias. No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores. Now, more than ever, we must do these things together, as one nation, and one people.

This generation of Americans has been tested by crises that steeled our resolve and proved our resilience. A decade of war is now ending. An economic recovery has begun. America’s possibilities are limitless, for we possess all the qualities that this world without boundaries demands: youth and drive; diversity and openness; an endless capacity for risk and a gift for reinvention. My fellow Americans, we are made for this moment, and we will seize it – so long as we seize it together.

For we, the people, understand that our country cannot succeed when a shrinking few do very well and a growing many barely make it. We believe that America’s prosperity must rest upon the broad shoulders of a rising middle class. We know that America thrives when every person can find independence and pride in their work; when the wages of honest labor liberate families from the brink of hardship. We are true to our creed when a little girl born into the bleakest poverty knows that she has the same chance to succeed as anybody else, because she is an American, she is free, and she is equal, not just in the eyes of God but also in our own.

 
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We understand that outworn programs are inadequate to the needs of our time. We must harness new ideas and technology to remake our government, revamp our tax code, reform our schools, and empower our citizens with the skills they need to work harder, learn more, and reach higher. But while the means will change, our purpose endures: a nation that rewards the effort and determination of every single American. That is what this moment requires. That is what will give real meaning to our creed.

We, the people, still believe that every citizen deserves a basic measure of security and dignity. We must make the hard choices to reduce the cost of health care and the size of our deficit. But we reject the belief that America must choose between caring for the generation that built this country and investing in the generation that will build its future. For we remember the lessons of our past, when twilight years were spent in poverty, and parents of a child with a disability had nowhere to turn. We do not believe that in this country, freedom is reserved for the lucky, or happiness for the few. We recognize that no matter how responsibly we live our lives, any one of us, at any time, may face a job loss, or a sudden illness, or a home swept away in a terrible storm. The commitments we make to each other – through Medicare, and Medicaid, and Social Security – these things do not sap our initiative; they strengthen us. They do not make us a nation of takers; they free us to take the risks that make this country great.

We, the people, still believe that our obligations as Americans are not just to ourselves, but to all posterity. We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations. Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires, and crippling drought, and more powerful storms. The path towards sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition; we must lead it. We cannot cede to other nations the technology that will power new jobs and new industries – we must claim its promise. That is how we will maintain our economic vitality and our national treasure – our forests and waterways; our croplands and snowcapped peaks. That is how we will preserve our planet, commanded to our care by God. That’s what will lend meaning to the creed our fathers once declared.

We, the people, still believe that enduring security and lasting peace do not require perpetual war. Our brave men and women in uniform, tempered by the flames of battle, are unmatched in skill and courage. Our citizens, seared by the memory of those we have lost, know too well the price that is paid for liberty. The knowledge of their sacrifice will keep us forever vigilant against those who would do us harm. But we are also heirs to those who won the peace and not just the war, who turned sworn enemies into the surest of friends, and we must carry those lessons into this time as well.

We will defend our people and uphold our values through strength of arms and rule of law. We will show the courage to try and resolve our differences with other nations peacefully – not because we are naïve about the dangers we face, but because engagement can more durably lift suspicion and fear. America will remain the anchor of strong alliances in every corner of the globe; and we will renew those institutions that extend our capacity to manage crisis abroad, for no one has a greater stake in a peaceful world than its most powerful nation. We will support democracy from Asia to Africa; from the Americas to the Middle East, because our interests and our conscience compel us to act on behalf of those who long for freedom. And we must be a source of hope to the poor, the sick, the marginalized, the victims of prejudice – not out of mere charity, but because peace in our time requires the constant advance of those principles that our common creed describes: tolerance and1/21/13 The Text of Obama’s Inaugural Address – Yahoo! News news.yahoo.com/text-obamas-inaugural-address-165950611.html 3/3 opportunity; human dignity and justice.

 
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We, the people, declare today that the most evident of truths – that all of us are created equal – is the star that guides us still; just as it guided our forebears through Seneca Falls, and Selma, and Stonewall; just as it guided all those men and women, sung and unsung, who left footprints along this great Mall, to hear a preacher say that we cannot walk alone; to hear a King proclaim that our individual freedom is inextricably bound to the freedom of every soul on Earth.

It is now our generation’s task to carry on what those pioneers began. For our journey is not complete until our wives, our mothers, and daughters can earn a living equal to their efforts. Our journey is not complete until our gay brothers and sisters are treated like anyone else under the law – for if we are truly created equal, then surely the love we commit to one another must be equal as well. Our journey is not complete until no citizen is forced to wait for hours to exercise the right to vote.

Our journey is not complete until we find a better way to welcome the striving, hopeful immigrants who still see America as a land of opportunity; until bright young students and engineers are enlisted in our workforce rather than expelled from our country. Our journey is not complete until all our children, from the streets of Detroit to the hills of Appalachia to the quiet lanes of Newtown, know that they are cared for, and cherished, and always safe from harm.

That is our generation’s task – to make these words, these rights, these values – of Life, and Liberty, and the Pursuit of Happiness – real for every American. Being true to our founding documents does not require us to agree on every contour of life; it does not mean we will all define liberty in exactly the same way, or follow the same precise path to happiness.

Progress does not compel us to settle centuries-long debates about the role of government for all time – but it does require us to act in our time.

For now decisions are upon us, and we cannot afford delay. We cannot mistake absolutism for principle, or substitute spectacle for politics, or treat name-calling as reasoned debate. We must act, knowing that our work will be imperfect. We must act, knowing that today’s victories will be only partial, and that it will be up to those who stand here in four years, and forty years, and four hundred years hence to advance the timeless spirit once conferred to us in a spare Philadelphia hall.

My fellow Americans, the oath I have sworn before you today, like the one recited by others who serve in this Capitol, was an oath to God and country, not party or faction – and we must faithfully execute that pledge during the duration of our service. But the words I spoke today are not so different from the oath that is taken each time a soldier signs up for duty, or an immigrant realizes her dream. My oath is not so different from the pledge we all make to the flag that waves above and that fills our hearts with pride.

They are the words of citizens, and they represent our greatest hope.

You and I, as citizens, have the power to set this country’s course.

You and I, as citizens, have the obligation to shape the debates of our time – not only with the votes we cast, but with the voices we lift in defense of our most ancient values and enduring ideals.

Let each of us now embrace, with solemn duty and awesome joy, what is our lasting birthright. With common effort and common purpose, with passion and dedication, let us answer the call of history, and carry into an uncertain future that precious light of freedom.

Thank you, God Bless you, and may He forever bless these United States of America.”

Saturday, December 15, 2012

Where does the interest lie in Canadian universities?

If the Internet searches conducting in Canada are an indicator, it appears that Brock University and Ryerson University are leading the number of searches conducted in Canada in comparison with other institutions namely Waterloo University, McGill University, and Concordia University.

These trends suggest that a large interest has developed in the newer institutions of higher learning in Canada, i.e., Brock and Ryerson, while the more established institutions may face some competition in attracting talent.

 

Saturday, October 13, 2012

Taliban attack a 14-year old in Pakistan

It is hard to believe that men armed with sophisticated weapons would be afraid of a 14-year old. The 14-year old Malala was shot in the head by the Taliban on her way back from school. Malala Yousafzai has been the most vocal supporter of equal education rights for girls in Pakistan.

I spoke with Steve Paikin in Toronto, Canada, about what the attack on Malala meant for Pakistan. The interview can be watched here.

 

More about Malala is available at:

http://dawn.com/2012/10/10/malala-yousufzai-sok-daa/

Monday, September 3, 2012

Research support specialist position at Ryerson University


The Ted Rogers School of Management at Ryerson University in Toronto has an opening for a research support specialist to assist with monitoring current research projects and to provide assistance with econometric/statistical analysis and training.

Required qualifications:
  • Completion of a Bachelor in economics, statistics, economic geography, or quantitative psychology with experience in programming and data analysis. Master degree in the mentioned areas is a very strong asset.
  • Extensive coursework in econometrics and statistical analysis is preferred.
  • 3+ years work experience in applied analytics involving econometrics and statistical analysis.
  • Experience in research monitoring and budget management.
  • Knowledge of advanced statistical analysis, such as SAS, Stata, Eviews, R, SPSS, or LimDep is required. Proficiency with advanced statistical and econometrics techniques required.
Further details are available at:



Monday, July 30, 2012

Big data, big analytics, big opportunity

Data, data, every where
Nor any byte to think

The world today is awash with data. Corporations, governments, and individuals are busy generating petabytes of data on culture, economy, environment, religion, and society.  While data has become abundant and ubiquitous, data analysts needed to turn raw data into knowledge are in fact in short supply.

With big data comes big opportunity for the educated middle class in the developing world where an army of data scientists can be trained to support the offshoring of analytics from the western countries where such needs are unlikely to be filled from the locally available talent.

In a 2011 report, McKinsey Global Institute revealed that the United States alone faces a shortage of almost 200,000 data analysts. The American economy requires an additional 1.5 million managers proficient in decision-making based on insights gained from the analysis of large data sets. And even when Hal Varian, Google’s famed chief economist, profoundly proclaimed that “the real sexy job in 2010s is to be a statistician,” there were not many takers for the opportunity in the West where students pursuing degrees in statistics, engineering, and other empirical fields are small in number and are often visa students from abroad.

A recent report by Statistics Canada revealed that two-thirds of those who graduated with a PhD in engineering from a Canadian University in 2005 spoke neither English nor French as mother tongue. Similarly, four out of 10 PhD graduates in computers, mathematics, and physical sciences did not speak a western language as mother tongue. Also, more than 60 per cent of engineering graduates were visible minorities, suggesting that the supply chain of highly qualified professional talent in Canada, and to a large extent in North America, is already linked to the talent emigrating from China, Egypt, India, Iran, and Pakistan.

The abundance of data and the scarcity of analysts present a unique opportunity for developing countries, which have an abundant supply of highly numerate youth who could be trained and mobilized en masse to write a new chapter in offshoring. This would require a serious rethink for thought leaders in developing countries who have not taxed their imaginations beyond thinking of policies to create sweat shops where youth would undersell their skills and see their potential wilt away while creating undergarments for consumers in the west. The fate of the youth in developing countries need not be restricted to stitching underwear or making cold calls from offshored call-centers in order for them to be part of the global value chains. Instead, they can be trained as skilled number-crunchers who would add value to otherwise worthless data for businesses, big and small.

A multi-billion dollar industry

The past decade has witnessed a major change in the sectorial evolution of some very large manufacturing firms known in the past for mostly hardware engineering and now evolving into firms delivering services, such as business analytics. Take IBM for example, which specialized as a computer hardware company producing servers, desktop computers, laptops, and other supporting infrastructure. That was IBM’s past. Today, IBM is focused on analytics. It is spending hundreds of millions of dollars in advertising, trying to rebrand itself as a leader in business analytics. In fact, it has divested from several hardware initiatives, such as manufacturing laptops, and has instead spent billions in acquisitions to build its analytic credentials. For instance, IBM has acquired SPSS for over a billion dollars to capture the retail side of the Business analytics market. For large commercial ventures, IBM acquired Cognos to offer full service analytics.

In 2011 alone, the business analytics software market was worth over $30 billion. Oracle ($6.1bn), SAP ($4.6 bn), IBM ($4.4 bn), and Microsoft and SAS each with $3.3 bn in sales led the market. It is estimated that the sale of business analytics software alone will hit $50 billion by 2016.  Dan Vesset of IDC, a company specializing in watching industry trends, aptly noted that business analytics had “crossed the chasm into the mainstream mass market” and the “demand for business analytics solutions is exposing the previously minor issue of the shortage of highly skilled IT and analytics staff.”

In addition to the bundled software and service sales offered by the likes of Oracle and IBM, business analytics services in the consulting domain generated several billion dollars more worldwide. While the large firms command the lion’s share in the analytics market, the billions left at the bottom are still a large enough prize to take the analytics plunge.

Several billion reasons to hop on the analytics bandwagon

While the IBMs of the world are focused largely on large corporations, the analytics needs for small and medium-sized enterprises (SMEs) are unlikely to be met by IBM, Oracle, or other large players. Cost is the most important determinant. SMEs prefer to have analytics done on the cheap while the overheads of the large analytics firms run into millions of dollars thus pricing them out of the SME market. With offshoring comes the access to affordable talent in developing countries who can bid for smaller contracts and beat the competition in the West on price, and over time on quality as well.

The trick therefore, is to beat the IBMs of the world in the analytics game by not competing against them. Realizing that business analytics is not a market, but an amalgamation of several types of markets focused on delivering value-added services involving data capture, data warehousing, data cleaning, data mining, and data analysis, developing countries can carve out a niche for themselves by focusing exclusively on contracts that large firms will not bid for because of their intrinsic large overheads.

Leaving the fight for top dollars in analytics to top dogs, a cottage industry in analytics could be developed in the developing countries that may strive to serve the analytics need of SMEs. Take the example of the Toronto Transit Commission (TTC), Canada’s largest public transit agency with annual revenues exceeding a billion dollars. When TTC needed to have a large database of almost a half million commuter complaints analyzed, it turned to Ryerson University, rather than a large analytics firm. TTC’s decision to work with Ryerson University was motivated by two considerations. First the cost; as a public sector university, Ryerson believes strongly in serving the community and thus offered the services for gratis. The second reason is quality. Ryerson University, like most similar institutions of higher learning, excels in analytics where several faculty members work at the cutting edge of analytics and are more than willing to apply their skills to real life problems.

Why now?

The timing had never been better to undertake such an endeavor on a very large scale. The innovations in Information and Communication Technology (ICT) and the ready availability of the most advanced analytics software as freeware allows entrepreneurs in developing countries to compete worldwide. The Internet makes it possible to be part of global marketplaces with negligible costs. With cyber marketplaces such as Kijiji and Craigslist individuals can become proprietors offering services worldwide.

Using the freely available Google Sites, one can have a business website online immediately at no cost.Google Docs, another free service from Google, allows one to have a web server for free to share documents with collaborators or the rest of the world for free. Other free services, such as Google Trends, allow individual researchers to generate data on business and social trends without needing subscriptions for services that cost millions. The graph below is generated using Google trends showing daily visits to the websites of leading analytics firms. Without free access to such services, access to the data used to generate the same graph would carry a huge price tag.

Similarly, another free service from Google allows one to determine, for instance, which cities registered the highest number of search requests for ‘business analytics’. It appears that four of the top six cities where analytics are most popular are located in India, which is evident from the following graph where search intensity is mapped on a normalized index of 0 to 100.

The other big development of recent times is freeware that is leveling the playing field between haves and have-nots. In analytics, one of the most sophisticated computing platforms is R, which is available for free. Developers worldwide are busy developing the R platform, which now offers over 3,000 packages for free for analyzing data. From econometrics to operations research, R is fast becoming the lingua franca for computing. R has evolved from being popular just amongst computing geeks to having its praise sung by the New York Times.

R has also made some new friends, especially Paul Butler, a Canadian student who became a worldwide sensation by mapping the geography of Facebook. While being an intern at Facebook, Paul analyzed gigabytes of data to plot how Facebook’s friends were linked globally. His map (see the image below) became an instant hit worldwide and has been reproduced in publications thousands of times. If you are wondering what software Paul used to generate the map, wonder no more, the answer is R.

R is fast becoming the preferred computing platform for data scientists worldwide. For decades the data analysis market was ruled by the likes of SAS, SPSS, Stata and other similar players. R has taken over the imagination of data analysts as of late who are fast converging to R, especially after R’s ability to interact with Hadoop (another open source platform) for analyzing big data . In fact, most innovations in statistics are first coded in R so that the algorithms become available to all immediately and for free.

Source: http://r4stats.com/articles/popularity/

The fact that R is freely available should not be taken lightly. A commercial license of a similarly equipped version of SPSS may cost up to US$7,500. The other big advantage of using R is the fact that thousands of training documents on the Internet and videos on YouTube are also available for free by volunteers.

Where to next

The private sector has to take the lead for business analytics to take root in developing countries. The governments could also have a small role in regulation. However, the analytics revolution has to take place not because of the public sector, but in spite of it. Even public sector universities in developing countries cannot be entrusted with the task where senior university administers do not warm up to innovative ideas unless they involve a junket in Europe or North America. At the same time the faculty in public sector universities in developing countries is often unwilling to try new technologies.

The private sector in developing countries may want to launch first an industry group that takes upon the task of certifying firms and individuals interested in analytics for quality, reliability, and ethical and professional competencies. This will help build confidence around national brands. Without such certification, foreign clients will be apprehensive to share their proprietary data with individuals hidden behind computer monitors thousands of miles away.

The private sector will also have to take the lead in training a professional workforce in analytics. Several companies train their employees in the latest technology and then market their skills to clients. The training houses would therefore also double as consulting practices where the best graduates may be retained as consultants.

Small virtual marketplaces could be setup in large cities where clients can put requests for proposals and pre-screened, qualified bidders can compete for the contract. The national self-regulating body will be responsible for screening qualified bidders from its vendor-of-record database, which it would make available to clients globally through the Internet.

The IBMs of the world see the analytics market to hit hundreds of billions in revenue in the next decade. The abundant talent in developing countries can be polished into a skilled workforce to tap into the analytics market to channel some revenue to developing countries while creating gainful employment opportunities for the educated youth who have been reduced to making cold calls from offshored call centers.

Saturday, June 30, 2012

Reverse brain drain: Chinese MBA programs lure Western students, faculty

It use to be, and continues to be to a large extent, that Chinese students will land in North America or Europe pursuing higher education. The trends ar fast changing. China is now attracting students and faculty from North America.

This makes sense to a large extent. The professors in North America are delaying retirement resulting in a large number of unemployed PhDs searching for openings. Chinese universities could be the prefect launching pad for such faculty. At the same time, privatized MBAs have become prohibitively expensive without offering any real differentiation or competitive advantage. Chinese MBAs could be good place to learn about doing business in China than paying $100,000 to a North American university for similar course contents!

Chinese MBA programs lure Western students, faculty - The Globe and Mail

Tuesday, June 26, 2012

Workshop on Structural Equation Models

The Ted Rogers School of Management at Ryerson University is offering a one-day, hands–on workshop on Structural Equation Modelling. The workshop focuses on SEM theory and applications using R and Amos.

Instructors: Professor Richard Michon and Christine Buske

When: July 11, 2012 (8:30 to 3:30 pm)

Where: TRS 3-099 (55 Dundas Street West, 9th floor)

RSVP: Christine Buske (chr.buske@ryerson.ca)