Hadoop – Latency = Google Dremel = Apache Drill???

Software Development Life Cycle (SDLC) Case Study – Result = $440M Loss

Share this: [wpsr_retweet] [wpsr_plusone][wpsr_linkedin]

 

Software Development Life Cycle (SDLC)Importance

Solid Logic Technology’s foundershave experience across the financial industry and specifically in the development of quantative trading and investment systems. Many of the things we’ve learned along the way impact the way we develop software for clients across other industries. Most notably we’ve learned that software quality is extremely important and ‘software bugs’ cost lots of money. The study below shows how important in-depth software development, testing and launch management is for a company.

As early as August 1st, 2012 reports came out that Knight Capital Group,  a prominent electronic market-making firm specializing in NYSE equities, lost an estimated $440 million dollars due to a ‘software bug’. The news spread across financial news networks like Bloomberg, NY Times, CNBC and The Wall Street Journal.  Knight and other similar firms, trade US equities electronically using sophisticated computer algorithms with little to no human involvement in the process. While we will probably never hear the full story behind the ‘software bug’, it is suspected that a software coding error that was not quickly identified caused the loss. The loss is approximately 4 times their 2011 net income of $115m. It appears to have pretty much decimated the firm and at this point it looks like the firm will be bought or end up in bankruptcy.

While unfortunate, this example has some implications across any software project.

So what can we learn and take away from this incident?

  1. Software is not perfect, especially right after it is released
  2. A more comprehensive Software Development Life Cycle (SDLC) process and launch plan probably would have reduced the loss to a more reasonable amount.
  3. Always have a contingency plan for a new launch
  4. If new software is ‘acting funny’ then it probably has a problem and needs to be pulled from production and fixed
  5. When possible, conduct a series of small ‘pilots’ or ‘beta’ test along the way in a lower impact way
  6. If you cannot fully test the changes, then implement them slowly to minimize the potential errors in the beginning
  7. Have a ‘kill switch’ and know how to use it
  8. Have a formal SDLC process and follow it for all revisions
  9. Use source control for all software changes
  10. Have a defined launch process
  11. Have a way to quickly revert the changes implemented back to the previous version.

These are basic best practices that all software development firms should follow in order to consistently develop high quality software. Its unfortunate that there is a case study like this but these type of incidents are more common (but not to this scale) than most people imagine. I’m sure the group at Knight completed many of the above items, but something got away from them.

We put a huge amount of thought and effort into the process of software development and the consistent high level of quality that a solid process brings. We’re currently working on publishing a set of Software Development best practices – please contact us for a pre-release version.

More posts by Eric

[gravityform id=”4″ name=”Subscribe to our Blog” description=”false” ajax=”false”]

Share this: [wpsr_retweet] [wpsr_plusone][wpsr_linkedin]

When will R overtake SPSS and SAS?

Summary:

R (formally ‘The R Project for Statistical Computing’) is growing quickly in usage and the user base. Based on some recently published forecasts R will overtake SAS & SPSS around 2015.

SLTI Commentary:

We use R for many different items and just got back from the R in Finance 2012 conference last week. Check out our post about thoughts on it here. The findings about R possibly overtaking more commercial languages are interesting, but its a bit of an apples to oranges comparison – R is viewed, in a general sense, as free vs. SAS & SPSS which are commercial packages.  I would be more interested to see some kind of market share or other metrics to show the change occurring in larger commercial installations. We met some of the people from Revolution Analytics last week and are very impressed with their solution – They should do a lot to increase the use of R within the enterprise.

Any ideas on if or when R will overtake either SAS or SPSS in commercial use?

Source:

http://r4stats.com/2012/05/09/beginning-of-the-end/ & http://blog Discover More.revolutionanalytics.com/2012/05/how-long-before-r-overtakes-sas-and-spss.html

Reduce Support Costs by not supporting IE

We’ve all been there – spending down a ton of time chasing some bug that “only happens in Internet Explorer (IE)”. More and more start-ups are dropping IE support to reduce cost and allow the development team to focus on making great software, not covering holes in functionality in IE.

Source: https://paydirtapp.com/blog/we-dont-support-ie/Movie Carol (2015)

Features of imo for pc

Functions of imo for pc

IMO for COMPUTER: It is not only the social networks messenger application that shares the images as well as video clips to our pals around the earth.Besides that, it has some extra features that are just the transmission speed as well as information use. Transmission time is 2 times minimal than all applications. Data use is 3 times less.

Boosts the speed of transmission also in the remote locations where we cannot get sufficient GSM signals – IMO for PC. One more predominant attribute of IMO for PC is its video calling feature. Which gives exceptional quality even at 2G net with little information use.imo app download Another specific function is Language conversion. Most of us understand that the largest obstacle to every individuals around this world is language. Many people intend to prolong their friendship circle with the people from different places speaking various languages. In order to help them, IMO adds a specials updates in IMO for PC.

Functions of imo for pc

IMO for PC already released translations for 30 languages in its IMO Android app including Arabic, Bulgarian, Chinese, Czech, Danish, Dutch, Finnish, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Oriental, Malay, Norwegian, Portuguese, Romanian, Russian, Slovak, Spanish, Swedish, Thai, Turkish as well as Vietnamese.imo pc This attribute is also available in IMO for PC. And also IMO group additionally plans to add a lot more languages. No need to do TEXT any longer, use IMO for PC to do messaging. IMO for COMPUTER obtained numerous stickers to mirror your emotion and mood.

Personal privacy Security is far better than WhatsApp, Viber. When you have to chat with dear ones for an extensive duration, it is much better to have IMO for COMPUTER. As a result of its video calling facility with its clearness makes you promote long time tirelessly. microsoft Inning accordance with me, I simply enjoy IMO for photos ringtone. Which is fairly various from other video calling apps.Note: Please disable its alert after mounting IMO in COMPUTER or phones.

How to download and install and set up IMO for computer. First Download and install IMO shout the download link.