GUIDE- a great GUI for derivatives in #rstats

I was reading a review copy of this fine book ” R for Quantitative Finance” when I came across a GUI for Finance in R – its called the GUIDE package and it’s absolutely is a must for people wanting to try out R based Quant Finance for a risk free trial 😉

I think it can be used to further spread R in the area of teaching finance courses.

See it yourself-

I am too old to do my coding homework #rstats

an email I get from a student when i am teaching R



Hello Ajay,

This is regarding the “XXXXXXXXX” course at EEEE.  Since you mentioned yesterday that submitting the class assignments is mandatory for everyone, I have to express my concern.
I am a senior level BI/DW Architect and executive in the U.S. and approaching the age of 60 years soon close to my retirement).  I have been away from hands on coding for many years now since I always have developers working for/with me who implement the solutions I envision, architect and design (although I have programmed in a variety of platforms for decades before that).  As such, completing programming assignments is not the best use of my time currently due to my professional priorities, business travel and other personal issues including my health, etc.  Hence it is not possible for me to submit the class assignments.  (I chose this class for its timing convenience and remote access form anywhere because I travel a lot and can’t take in-class courses).
My goal in attending this class is to get a good understanding of how R and its statistical tools are used for business analytics.  I know exactly what I need to learn from this class such that I can drive my R / BI developers in the right direction for my intended solutions.  I should mention that I have good college background in Statistics and have used SAS and SPSS before.
As such, I need to have an agreement with you that I will not have to submit the class assignments.  I will sincerely try to solve them mentally to clearly understand the solution but do not have the time to invest in the coding part and struggle with the R syntax.  It would help me (and others) tremendously if you walk through the assignment solutions during each following class.  That would solidify our leanings.
Let me know via reply  if you can give me this exception.  Otherwise, I am willing to drop out of the course and will take that up with the EEE management.

Analytics Consulting made much more affordable due to R #rstats

Here are some ways I can suggest to potential clients they can start with R immediately even if they dont have trained people


1) Get R Excel-

This enables R functions as functions within Excel

Our Wiki has < a href=”>instructions how R needs to be installed to work with our tools.


The current version is RExcel 3.2.14. The Home and Student version and the Educational version work only with 32bit versions of Excel (which can be installed on 64bit versions of Windows). The Excel versions supported are 2003, 2007, 2010, and 2013.

RExcel 3.2.14 (and later versions) require R 2.15.0 (or later).

You will have to install

  • a suitable version of R
  • a matching version of rscproxy
  • statconnDCOM or rcom with statconnDCOM

Download RExcel 3.2.14


Detailed instructions for installing can be found in our Wiki

also the book

R, a free and open source program, is one of the most powerful and the fastest-growing statistics program. Microsoft Excel is the most widely used spreadsheet program, but many statisticians consider its statistical tools too limited.

In this book, the authors build on RExcel, a free add-in for Excel that can be downloaded from the R distribution network. RExcel seamlessly integrates the entire set of R’s statistical and graphical methods into Excel, allowing students to focus on statistical methods and concepts and minimizing the distraction of learning a new programming language.

Data can be transferred between R and Excel “the Excel way” by selecting worksheet ranges and using Excel menus. R’s basic statistical functions and selected advanced methods are available from an Excel menu. Results of the computations and statistical graphics can be returned back into Excel worksheet ranges. RExcel allows the use of Excel scroll bars and check boxes to create and animate R graphics as an interactive analysis tool.

2) Use R Commander

Very easy to use GUI- start working with R without writing a single line of code! See 

The R-Commander GUI consists of a window containing several menus, buttons, and information fields. (The menu tree, etc., are shown below.) In addition, the Commander window contains script and output text windows. The R-Commander menus are easily configurable through a text file or, preferably, through plug-in packages, of which many are now available on CRAN.

The menus lead to simple dialog boxes, the general contents of which are more or less obvious from the names of the menu items. These boxes have a common structure, including a help button leading to the help page for a relevant function, and a reset button to reset the dialog to its original state.

By default, commands generated via the dialogs are posted to the output window, along with printed output, and to the script window. Lines in the script window can be edited and (re)submitted for execution. Error messages, warnings, and “notes” appear in a messages window.

Note you can do time series forecasting using the e pack plugin for R commander

3) Use Rattle

a very comprehensive data mining GUI in R

Version 3.0.2 release 169 dated 2014-02-20.
> install.packages(“rattle”, repos=”;, type=”source”)
$ wget

Rattle (the R Analytical Tool To Learn Easily) presents statistical and visual summaries of data, transforms data into forms that can be readily modelled, builds both unsupervised and supervised models from the data, presents the performance of models graphically, and scores new datasets.

 Errata              Brochure

  • Documentation

4) Dont use R but use WPS a SAS language clone

upto 50 % cheaper by some estimates you can try this SAS language clone for free here

5) okay use Oracle R or Revolution R Community

R by Oracle is free

so is the R Community by Revolution Analytics (basically everything but the Revo Scaler package)


6) Use Revolution R on the cloud , and pay by hour , but first few hours are free



Setting up an analytics shop has never been so easy in history before in the past 50 years!

The Amazingly Sexy Rmaps package #rstats

The amazing Rmaps makes maps even more data scientisty (or sexy 😉 ) than before by adding incredible javascript like interactivity to people who can just type (or copy and paste)
a few lines of R code

A great analysis of Mexico


Now if could only persuade the very busy creator of the package to honor his promise of sending the interview answers 🙂 !!


Also see-

Using R with Twitter – great tutorial in #rstats

A great tutorial from one of my students  Kaify Rais,  he is founder of an analytics company

It is about using Twitter and R together for political sentiment analysis which is going to be this year’s analytics buzzword in India since 2014 is the year of elections

Using R and RapidMiner together #rstats

I just came across this interesting corporate blog, and I must confess I really like the design as well as the content in it. Simafore is an  analytics company. The post of course was on combining R with Rapid Miner

There are many packages and libraries in R, specifically tailored to handle time series forecasting in the “traditional” manner. RapidMiner integrates really well with R by providing two mechanisms:

  • an interactive console, similar to the native R console and somewhat less sophisticated thanRStudio
  • and a more powerful full integration of R capabilities within the RapidMiner process design perspective.

The first option is fairly easy to put into work, assuming you have successfully added the R extension to RapidMiner. But the second option requires some initial planning. The key is to understand how to pass data from RapidMiner to R and back. Once you understand this simple but important aspect, then R essentially becomes another powerful “operator” within the vast library of existing RapidMiner operators

you can read the complete article here

Is the non-Chinese Internet America’s cyber colony?

The world’s largest internet companies are either in China or USA (except for a few in Japan)

China’s strategy has helped it in the following-

  1. protect it’s citizen’s data from foreign data collection
  2. helped safeguard the industrial secrets of it’s own corporations
  3. create a domestic ecosystem that benefits it’s own entrepreneurs and investors
  4. created basic infrastructure for resisting cyber warfare (et Stuxnet virus)

Rest of the non Chinese World has now the following ignominy-

  1. Most of profits from IPOs, Ads flow to US companies
  2. US Govt arm spy in active collaboration with US companies including gathering industrial secrets for trade negotiations
  3. Almost zero non Chinese non American Internet Infrastructure
  4. built a monopoly of California led companies across rest of world
  5. led to brain drain of top technical talent to USA
  6. Great ecosystem of investors and tech in USA- to the detriment of all other countries

Internet is the new opium, and after getting the rest of the world addicted- USA law makers are abandoning core principles like net neutrality and opting for unrestricted warrant less spying , as well as preparing inroads for cyber attacks

China is correctly safeguarding the future interests of it’s citizens- while the rest of the world is now a cyber colony mostly occupied by USA

Quo Vadis?

Countries have no friends, only interests