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by conductr
1537 days ago
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> Programmable commands instead of a data grid would be huge improvement to quality... Would it? At the end of the day, someone else still has to proofread and QA the commands/formulas/program or it's just blind trust that the decision is being made on. Trust (or ignorance) that the creator knew what they were doing and developed it in an accurate way before action is taken on the decision being made. The interface really makes no difference, it's the human component and "process" for creation that needs to be fine tuned. Things like the London whale situation was a process failure where one person had too much power to execute trades without oversight, review, QA, testing, etc. [0] All things that are pretty standard in a software developer's day-to-day but the rest of the world has not realized or adjusted to the fact that they are now software developers too. [0] Excel wasn't the problem with the London whale at all, they made a mathematical error "modelers divided by a sum instead of an average" |
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The Reinhart-Rogoff issue was technically an error in Excel, but also an error by the authors for not actually verifying the results before publishing. It didn't hurt that their particular biases were in line with the results.
The technical problem can be addressed with more warnings and safeguards, but they are meaningless if no one uses them.