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Now-casting is the prediction of the present, the very near future, and the very recent past. It has been developed within a research programme led by Lucrezia Reichlin at LBS. It is relevant because key economic statistics, particularly quarterly measures such as GDP, are available only with a delay. Now-casting exploits information which is published early and at higher frequencies than the target variable and generates early estimates before the offb01cial fb01gures become available.
Now-casting has signifb01cant infb02uence and impact. The techniques reported in this case study are in widespread use by central banks and policy institutions. Furthermore, this research has achieved successful commercial impact via Now-Casting Economics Limited.
The research improves digital data archives by embedding computation into the storage controllers that maintain the integrity of the data within the archive. This opens up a number of possibilities:
This has impact on three different classes of beneficiary:
Research carried out at Birkbeck's Department of Computer Science and Information Systems since 2000 has produced techniques for the management and integration of complex, heterogeneous life sciences data not previously possible with large-scale life sciences data repositories. The research has involved members of the department and researchers from the European Bioinformatics Institute (EBI) and University College London (UCL) and has led to the creation of several resources providing information about genes and proteins. These resources include the BioMap data warehouse, which integrated the CATH database — holding a classification of proteins into families according to their structure, the Gene3D database — holding information about protein sequences, and other related information on protein families, structures and the functions of proteins such as enzymes. These resources are heavily utilised by companies worldwide to explore relationships between protein structure and protein function and to aid in drug design.
KCL research played an essential role in the development of data provenance standards published by the World Wide Web Consortium (W3C) standards body for web technologies, which is responsible for HTTP, HTML, etc. The provenance of data concerns records of the processes by which data was produced, by whom, from what other data, and similar metadata. The standards directly impact on practitioners and professional services through adoption by commercial, governmental and other bodies, such as Oracle, IBM, and Nasa, in handling computational records of the provenance of data.
The research in this case study has pioneered knowledge management technology. It has had major impact on drug discovery and translational medicine and is widely adopted in the pharmaceutical and healthcare industries. The impacts are:
Open Data has lowered barriers to data access, increased government transparency and delivered significant economic, social and environmental benefits. Southampton research and leadership has led to the UK Public Data Principles, which were enshrined in the UK Government Open Data White Paper, and has led to data.gov.uk, which provides access to 10,000 government datasets. The open datasets are proving means for strong citizen engagement and are delivering economic benefit through the £10 million Open Data Institute. These in turn have placed the UK at the forefront of the global data revolution: the UK experience has informed open data initiatives in the USA, EU and G8.
Visual analytics is a powerful method for understanding large and complex datasets that makes information accessible to non-statistically trained users. The Non-linearity and Complexity Research Group (NCRG) developed several fundamental algorithms and brought them to users by developing interactive software tools (e.g. Netlab pattern analysis toolbox in 2002 (more than 40,000 downloads), Data Visualisation and Modelling System (DVMS) in 2012).
Industrial products. These software tools are used by industrial partners (Pfizer, Dstl) in their business activities. The algorithms have been integrated into a commercial tool (p:IGI) used in geochemical analysis for oil and gas exploration with a 60% share of the worldwide market.
Improving business performance. As an enabling technology, visual analytics has played an important role in the data analysis that has led to the development of new products, such as the Body Volume Index, and the enhancement of existing products (Wheelright: automated vehicle tyre pressure measurement).
Impact on practitioners. The software is used to educate and train skilled people internationally in more than 6 different institutions and is also used by finance professionals.
Targeted Projection Pursuit (TPP) — developed at Northumbria University — is a novel method for interactive exploration of high-dimension data sets without loss of information. The TPP method performs better than current dimension-reduction methods since it finds projections that best approximate a target view enhanced by certain prior knowledge about the data. "Valley Care" provides a Telecare service to over 5,000 customers as part of Northumbria Healthcare NHS Foundation Trust, and delivers a core service for vulnerable and elderly people (receiving an estimated 129,000 calls per annum) that allows them to live independently and remain in their homes longer. The service informs a wider UK ageing community as part of the NHS Foundation Trust.
Applying our research enabled the managers of Valley Care to establish the volume, type and frequency of calls, identify users at high risk, and to inform the manufacturers of the equipment how to update the database software. This enabled Valley Care managers and staff to analyse the information quickly in order to plan efficiently the work of call operators and social care workers. Our study also provided knowledge about usage patterns of the technology and valuably identified clients at high risk of falls. This is the first time that mathematical and statistical analysis of data sets of this type has been done in the UK and Europe.
As a result of applying the TPP method to its Call Centre multivariate data, Valley Care has been able to transform the quality and efficiency of its service, while operating within the same budget.
The advanced information management research of the Department of Digital Humanities (DDH) has led to a better understanding of pollution processes in inland waterways and lakes. It has also improved the standard of water quality information that is available to government and regulatory authorities. The information management framework which DDH has provided supports government-funded activities to improve environmental standards and has helped ensure that the UK Environment Agency is able to comply with the EU's Water Framework Directive, reducing the risk of financial penalties for non-compliance. Moreover, key and accurate evidence about water quality has been made freely available to beneficiaries, including governmental and non-governmental agencies, farmers and land managers, and the general public.
DICHROWEB is a comprehensive, user-friendly server that provides access to computational tools for the determination of protein secondary structure from data obtained through circular dichroism (CD) and synchrotron radiation (SRCD) spectroscopy. The Protein Circular Dichroism Data Bank (PCDDB) is a database of spectra obtained using these techniques and allied data. Both resources are widely and increasingly used in many countries and are proving useful in industrial research (for example, in drug discovery) as well as academia and advanced teaching. DICHROWEB currently has over 3,600 registered users and over 375,000 DICHROWEB analyses have been run. Since the launch of PCDDB in 2009, the database has had over 175,000 unique hits from 41 different countries, and 89,890 downloads.