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ReferenceMonte Carlo Simulation
Close [x]ActiveX Data Objects (ADO)
Monte Carlo SimulationA Monte Carlo algorithm is often a numerical Monte Carlo method used to find solutions to mathematical problems (which may have many variables) that cannot easily be solved, for example, by integral calculus, or other numerical methods. For many types of problems, its efficiency relative to other numerical methods increases as the dimension of the problem increases. Or it may be a method for solving other mathematical problems that relies on (pseudo-)random numbers. Monte Carlo methods are useful for modeling phenomena with significant uncertainty in inputs, such as the calculation of risk in business. Monte Carlo methods have also proven efficient in solving coupled integral differential equations of radiation fields and energy transport, and thus these methods have been used in global illumination computations which produce photorealistic images of virtual 3D models, with applications in video games, architecture, design, computer generated films, special effects in cinema, business, economics and other fields. The advantage Monte Carlo methods offer increases as the dimensions of the problem increase
Close [x]Forecasting Analysis
ActiveX Data Objects (ADO)Microsoft ActiveX Data Objects (ADO) is a set of Component Object Model objects for accessing data sources. It provides a layer between programming languages and OLE DB (a means of accessing data stores, whether they be databases or otherwise, in a uniform manner), which allows a developer to write programs which access data, without knowing how the database is implemented. You must be aware of your database for connection only. No knowledge of SQL is required to access a database when using ADO, although one can use ADO to execute arbitrary SQL commands.
Close [x]Black-Scholes Option Pricing Model
Forecasting AnalysisThe Black-Scholes model is a mathematical model of the market for an equity, in which the equity's price is a stochastic process. Its PDE is an equation which (in the model) the price of a derivative on the equity must satisfy. The Black–Scholes formula is the result obtained by applying the Black-Scholes PDE to European put and call options. The formula was derived by Fischer Black and Myron Scholes and published in 1973. They built on earlier research by Edward O. Thorp, Paul Samuelson, and Robert C. Merton. The fundamental insight of Black and Scholes is that the option is implicitly priced if the stock is traded.
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Black-Scholes Option Pricing ModelData mining is the process of automatically searching large volumes of data for patterns. It is usually used by businesses and other organizations, but is increasingly used in the sciences to extract information from the enormous data sets generated by modern experimentation.
Although data mining is a relatively new term, the technology is not. Companies for a long time have used powerful computers to sift through volumes of data such as supermarket scanner data, and produce market research reports. Continuous innovations in computer processing power, disk storage, and statistical software are dramatically increasing the accuracy and usefulness of analysis.
Data mining identifies trends within data that go beyond simple analysis. Through the use of sophisticated algorithms, users have the ability to identify key attributes of business processes and target opportunities.
The term data mining is often used to apply to the two separate processes of knowledge discovery and prediction. Knowledge discovery provides explicit information that has a readable form and can be understood by a user. Forecasting, or predictive modeling provides predictions of future events and may be transparent and readable in some approaches (e.g. rule based systems) and opaque in others such as neural networks. Moreover, some data mining systems such as neural networks are inherently geared towards prediction rather than knowledge discovery.
Database ServerA database is a structured collection of records or data which is stored in a computer so that a program can consult it to answer queries. A database server is a computer program that provides database services to other computer programs or computers, as defined by the client-server model. The term may also refer to a computer dedicated to running such a program. Database management systems frequently provide database server functionality, and some DBMS's (e.g., MySQL) rely exclusively on the client-server model for database access..
* Source: wikipedia.org