An introduction to Semantic Python

An introduction to Semantic Python

A CrashCourse introduction to semantic data using Python covering a number of frameworks such as rdflib, owlready and pySHACL

Reading Time: 2 min.
Course Content: This CrashCourse is an introduction to semantic data using Python. It covers the following topics: We learn to work with RDF graphs using rdflib We explore the owlready package and OWL ontologies We look into json-ld serialization of RDF/OWL data We try data validation using pySHACL We use throughout a realistic data set based on the Credit Ratings Ontology Who Is This Course For: The course is useful to:
Stress Testing of the Future - A view from 2031

Stress Testing of the Future - A view from 2031

What is the future of stress testing? We speculate on how stress testing might look like in 2031

Reading Time: 12 min.
What is the future of stress testing? To speculate on the future of Stress Testing we need first a basic definition what is stress testing. Broadly speaking, the goal of Stress Testing is to assess how a system would behave under adverse conditions that - while not the most likely outcome with the knowledge of today - are within the realm of the plausible. There are, broadly speaking, two types of stress testing: The Real type and Hypothetical version.
Visualization of a Planet in Lockdown

Visualization of a Planet in Lockdown

We visualize global mobility patterns over a full year of pandemic induced lockdowns

Reading Time: 5 min.
Visualizing a year in lockdowns and restricted mobility As we move into February 2021 the world will be experiencing almost a year under pandemic conditions. This has markedly changed behavioral patterns of human mobility across the board. One major difference with previous pandemics is that through the use of a variety of digital technologies and new data collection channels we know have an unprecedented view of those changing mobility patterns.
Non-Performing Loan Ontology

Non-Performing Loan Ontology

The NPL Ontology (NPLO) is a new ontology describing datasets of Non-Perfoming Loan Portfolios.

Reading Time: 4 min.
The Non-Perfoming Loan Ontology The Non-Performing Loan Ontology is a framework that aims to represent and categorize knowledge about non-performing loans using semantic web information technologies. Codenamed NPLO, it codifies the relationship between the various components of a Non-Performing Loan portfolio dataset.(NB: Non-performing loans are bank loans that are 90 days or more past their repayment date or that are unlikely to be repaid, for example if the borrower is facing financial difficulties).
What do people talk about at FOSDEM 2021

What do people talk about at FOSDEM 2021

FOSDEM is the Free and Open Source Software Developers European Meeting.

Reading Time: 3 min.
Introduction: What is FOSDEM? FOSDEM is a non-commercial, volunteer-organized event centered on free and open-source software development (with a geographic focus on the European open source ecosystems / projects). FOSDEM is aimed at developers and anyone interested in the free and open-source software movement. It aims to enable developers to meet and to promote the awareness and use of free and open-source software. FOSDEM is held annually since 2001, usually during the first weekend of February, at the Université Libre de Bruxelles Solbosch campus in the southeast of Brussels, Belgium.
Taxonomy of Uncertainty

Taxonomy of Uncertainty

We review and synthesize into a taxonomy a number of related concepts and terms describing uncertainty, risk, randomness and model risk

Reading Time: 14 min.
Risk, Randomness, Uncertainty and other Ambiguous Terms Uncertainty versus Risk is a popular discussion topic among risk managers, especially after major risk management disasters. The debate can get really hairy and drift into deep philosophical areas about the nature of knowledge etc. Yet the significance of having an as clear as possible language toolkit around these terms should not be underestimated. Practical risk management typically shuns too deep excursions into the meaning of things, yet that is not quite compatible with the use of sophisticated methods and tools (such as a Risk Model ) that assumes an understanding of the scope and limitations of “knowledge”.
A Global Mobility Index

A Global Mobility Index

We introduce a global mobility index that averages Google mobility data across all available countries (weighting by population) to provide an overall view of how the pandemic has influenced human mobility

Reading Time: 6 min.
Constructing a Global Mobility Index (GMI): In previous posts (here, and here) we introduced new Open Risk Dashboard functionalities that integrate COVID-19 community mobility data (currently focusing on the datasets provided by Google). As a reminder, these reports chart over time human mobility trends collected from mobile geolocation data. The granularity is by geography and across different categories of places / activities such as retail and recreation areas, groceries and pharmacies, parks, transit stations, workplaces, and residential areas.
Is Global Debt Truly Astronomical?

Is Global Debt Truly Astronomical?

People frequently use the term 'astronomical' to describe global debt levels, but is this factually true? In this commentary we discuss whether that is really true

Reading Time: 11 min.
Is the size of global debt truly “astronomical”? The notion of astronomical numbers and figures is quite frequently seeping in everyday language when large quantities of something are encountered in “normal” life. The strict definition of astronomical is obviously something of, or relating to, astronomy and astronomical observations but in common usage it also denotes something enormously or inconceivably large. This is, of course, because astronomical figures are inconceivably large!
Risk Function Ontology

Risk Function Ontology

The Risk Function Ontology (RFO) is a new ontology describing risk management roles (posts) and functions.

Reading Time: 3 min.
The Risk Function Ontology The Risk Function Ontology is a framework that aims to represent and categorize knowledge about risk management functions using semantic web information technologies. Codenamed RFO codifies the relationship between the various components of a risk management organization. Individuals, teams or even whole departments tasked with risk management exist in some shape or form in most organizations. The ontology allows the definition of risk management roles in more precise terms, which in turn can be used in a variety of contexts: towards better structured actual job descriptions, more accurate description of internal processes and easier inspection of alignement and consistency with risk taxonomies (See also live version and white paper (OpenRiskWP04_061415)
Monte Carlo Simulation of the US Electoral College

Monte Carlo Simulation of the US Electoral College

Using a simplified version of the rules of the US Electoral College system we illustrate how the use of Monte Carlo techniques allows exploring systems that show combinatorial explosion

Reading Time: 9 min.
The role of simulation in risk management and decision support A Simulation is a simplified imitation of a process or system that represents with some fidelity its operation over time. In the context of risk management and decision support simulation can be a very powerful tool as it allows us to assess potential outcomes in a systematic way and explore what-if questions in ways that might otherwise be not feasible. Simulation is used when the underlying model is too complex to yield explicit analytic models (An analytic model is one can be “solved” exactly or with standard numerical methods, for example resulting in a formula).
Federated Credit Systems, Part One: Unbundling the Credit Provision Business Model

Federated Credit Systems, Part One: Unbundling the Credit Provision Business Model

In this Open Risk White Paper, the first in a series of three, we introduce and explore the concept of federated credit systems as a potentially interesting domain for the application of federated analysis and federated learning.

Reading Time: 1 min.
Federated Credit Systems, Part I: Unbundling the Credit Provision Business Model: As an architectural design and information technology approach, federation has received increased attention in domains such as the medical sector (under the name federated analysis), in official statistics (under the name trusted data) and in mass computing devices (smartphones), under the name federated learning. In this (the first of series of three) white paper, we introduce and explore the concept of federated credit systems.
Logarithmic Sankey Visualization of Credit Migrations

Logarithmic Sankey Visualization of Credit Migrations

Sankey diagrams are very useful for the visualization of flows, especially when there is a conserved quantity. They can be tricky when some of the flows are much smaller than others. In the latest release of transitionMatrix we include an example of a log-scale version of Sankey

Reading Time: 5 min.
Using Sankey Diagrams: Sankey Diagrams are a type of flow diagram composed of interconnected arrows. The width of the arrows is proportional to the flow rate. Sankey diagrams are often used in physical sciences (physics, chemistry, biology) and engineering but also in economics. They can be used to represent the relative role and significance of various inputs and outputs in a given process. Sankey diagrams emphasize the major transfers within a system.
openNPL 0.2 REST API implementation

openNPL 0.2 REST API implementation

The 0.2 release of openNPL exposes a RESTful API that provides easy standardized online access to NPL credit portfolio data conforming to the EBA NPL templates

Reading Time: 4 min.
openNPL 0.2 release: The open source openNPL platform supports the management of standardized credit portfolio data for non-performing loans. In this respect it implements the detailed European Banking Authority NPL loan templates. It aims to be at the same time easy to integrate in human workflows (using a familiar web interface) and integrate into automated (computer driven) workflows. The latest (0.2) release exposes a REST API that offers machine oriented access using, what is by now, the most established mechanism for achieving flexible online data transfers.
Back to School With the Open Risk Academy

Back to School With the Open Risk Academy

In the Back-to-School for 2020 we have more ways to access the Academy, new functionalities and more courses. In the rest of this post you will find a summary of the changes with pointers to further information where required

Reading Time: 4 min.
Risk Management will not be the same going forward: too much is at stake! The summer is over in the Northern Hemisphere - and what an unusual summer has it been! Worldwide the implications and challenges of adjusting to a Covid-19 pandemic are still a major issue, affecting individuals, companies and governments. At Open Risk we have been tracking and will continue to interpret the impact of the pandemic via a number of projects:
openNPL now Available in Dockerized Form

openNPL now Available in Dockerized Form

Open Source, cloud based management of Non-Performing Loan data following the European Banking Authority's templates with just a few keystrokes!

Reading Time: 1 min.
openNPL now Available in Dockerized Form: Following up on the first release of openNPL the platform is now available to install using Docker. Running openNPL via docker is the installation option that simplifies the manual process (but a working docker installation is required!). Docker Hub You can pull the latest openNPL image from Docker Hub (This method is recommended if you do not want to mess with the source distribution).
21 Ways to Visualize a Timeseries

21 Ways to Visualize a Timeseries

We explore a variety of distinct ways to visualize the same simple dataset

Reading Time: 26 min.
What this blog post is about (and what it isn’t): With the ever more widespread adoption of Data Science, defined as the intensive use of data in various forms of decision making, there is a renewed interest in Visualization as an effective channel for humans to understand data at various stages of the data lifecycle. There is a large variety of data visualization tools which can produce an ever more bewildering variety of visualization types
openNPL: Open Source NPL Platform - First Release

openNPL: Open Source NPL Platform - First Release

We introduce an open source platform that allows the easy management of non-performing loan data

Reading Time: 4 min.
Non-Performing Loans: The covid-19 crisis will certainly impact the concentration of Non-Performing Loans but given the special nature of this economic crisis compared (in particular) with the 2008 financial crisis it is unclear how precisely things will evolve. In a previous post and white paper (OpenRiskWP07_022616) we discussed the importance of advancing open and transparent methodologies for managing the risks associated with such credit portfolios. Effective management of NPL is also a top regulatory priority.
Risk Compensation: From Face Masks to Credit, Market and Systemic Risk

Risk Compensation: From Face Masks to Credit, Market and Systemic Risk

Reading Time: 7 min.
What is Risk Compensation? Risk Compensation is a behavioral model of human attitudes towards risk which suggests that people might adjust their behavior in response to the perceived level of risk. It follows that, depending on the strength of the effect, that it might counteract and even annul the impact of risk mitigation, if the updated attitude and behavior modifies the actual underlying risk Examples of potential risk compensation effects abound A prominent example of potential risk compensation in recent times that established the concept in more formal terms in public policy debates concerned the beneficial role of safety belts in automobiles.
Comparing Google Community Mobility Reports Across Countries

Comparing Google Community Mobility Reports Across Countries

Reading Time: 5 min.
The community mobility reports and OpenCPM: In a previous post we introduced new OpenCPM functionality that integrates COVID-19 community mobility data (currently from Google). The reports chart movement trends over time by geography, across different categories of places such as retail and recreation, groceries and pharmacies, parks, transit stations, workplaces, and residential. While these reports are unlikely to persist as open data sources in the long term, the current availability (as of May 2020) enables providing within OpenCPM a mobility data dashboard that can help draw insights through visualization and statistical analysis.
Exploring Community Mobility Reports Using OpenCPM

Exploring Community Mobility Reports Using OpenCPM

Reading Time: 7 min.
The community mobility reports and OpenCPM: As the COVID-19 pandemic unfolded technology providers (most notably Google and Apple) made available to the public aggregated and anonymized data about human mobility in the crisis period (on the basis of smartphone location data). These Community Mobility Reports provide insights into how mobility patterns changed in response both to pandemic news and policies aimed at combating COVID-19. The reports chart movement trends over time by geography, across different categories of locations and activities, such as retail and recreation, groceries and pharmacies, parks, transit stations, workplaces, and residential.