February 22, 2017
Share

UAE scientists predict the future with this patented invention

Flying drone taxis. Hyperloop. Self-driving public transportation.  The future is now here in the UAE. What better way to cement this status than by receiving the patent to an invention that will help predict the future?

Scientists from the United Arab Emirates University (UAEU) IT College, spearheaded by Dr Jose Berenqueres, have invented a tool called System for Forecasting Future Events that, from the name itself, will be able to predict possible outcomes and when it could occur.

For example if you were in the fashion industry, using the tool could help you determine when to come up with a new collection, or how many times in a year do you actually have to based on a particular segment’s behavior, so you can direct your company’s resources accordingly.

Almost every company knows that data collection is a must in order to keep up with trends, but most of them do not know what to do with all the numbers they’ve crunched. The System for Forecasting Future Events will do that for them.

Originally designed for the airline industry in which collecting and analyzing data from a passenger’s purchases, website visits, and travel behavior could prove to be profitable for an airline company, Dr Berenqueres describes the tool as something that has the potential to be utilized by any company in any industry.

data science internal 1

Almost every company knows that data collection is a must in order to keep up with trends, but most of them do not know what to do with all the numbers they’ve crunched. The System for Forecasting Future Events will do that for them. The tool processes a company’s data on two levels. The first one converts your numbers into categorical data which a computer can understand and interpret. Take the earlier fashion industry example. The numbers could be converted into number of male and female buyers. This way, it’s ready for the next step.

The second level of data processing called “blending” determines the average and takes it as the strongest indicator of future behavior.

data science internal 2

A third process also happens called “time shifting” in which a customer’s data stream is processed. The data stream includes records of purchases, interactions with a company’s website, and even the first time they made any contact with the company.

Dr Berenqueres sees this as a huge step for data science. He hopes that more companies would be willing to share their data with them and would be more open to the idea of having them analyzed, because after all, what good is a terabyte of data if you’re not going to use it?