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Book Review: The Signal and the Noise by Nate Silver

November 21, 2012 by Political Books

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In the weeks leading up to the 2012 Presidential election it was nearly impossible to not hear the name Nate Silver. His projections of the election came to dominate the news cycle and he himself became the subject of the media zeitgeist. Silver was either lambasted as a charlatan by those who disagreed with his lean towards an Obama win; or he was heralded as a genius by liberals whose fear of a Romney victory he assuaged. This backdrop was the perfect setting to be reading Silver’s first book The Signal and the Noise: Why So Many Predictions Fail-but Some Don’t. The narrative in the book described a far different world of projection and probabilistic thinking then what was occurring in the media in the lead up to the election.    Read more

NATE SILVER EAT YOUR HEART OUT

November 15, 2012 by LPStrat

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As many might remember in July of this year we released the results of our presidential electoral model to predict the results of the 2012 election. As opposed to many predictive models out there (Nate Silver's 538 blog being the best known) that rely on publicly available data up to the day of the election, our model is based mainly on past results and demographic changes in the country. We do not use any polling or factor in who the candidates are.

The model not only performed exceptionally well in predicting the national support Obama would receive (only 1/10 of a point off), but we also predicted the state that would put Obama over the 270 threshold (Colorado). Additionally, when looking at the state by state results, the model was only off by an average of 2.3 percent across all 50 states. However, in the 10 swing states it was only off by .8 percent. 538 was off by .7 percent in the same 10 states. Additionally we were closer to predicting the results in 5 of the 10 states, while 538 was closer on 4 and we tied on one.     Read more

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