29 August 2015

Goldman geeks correctly predict Team GB Olympics medal haul

13 August 2012  |  8276 views  |  0 The cup

Team GB may have stunned the sporting world with its impressive medal haul at the London Olympics but the performance will have come as no surprise to the geeks at Goldman Sachs who saw their pre-Games predictions proved almost spot on.

In a report on the economics of the Olympics published on the eve of the 2012 Games, Goldman analysts José Ursúa and Kamakshya Trivedi used the proprietary GS Growth Environment Scores to help forecast how many medals countries would win.

As noted by Business Insider, the model has proved impressively accurate for the Great Britain team; correctly predicting a total of 65 medals, albeit with 30, instead of the actual 29, golds.

In fact, the analysts' forecasts for most of the top countries, including the USA, China, Russia and South Korea, came within a handful of medals of the final standings.

The one nation to decisively defeat the model has been Australia, which has endured a painful Games. It fell well short of the expected 15 golds and fifth place on the medal table, finishing 10th with just seven golds.

Despite the Aussie blip though, London proved a good Games for Goldman, helping to restore some dignity following an embarrassing 2010 World Cup which saw it outperformed in the prediction stakes by German celebrity psychic, Paul the octopus.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

02 August, 2012
30 July, 2012
27 July, 2012
01 June, 2012
12 July, 2010

Related company news


Related company information

Goldman Sachs

Top topics

Most viewed Most shared
Android Pay could launch this week
6276 views comments | 26 tweets | 22 linkedin
FIS opens Indian financial inclusion lab
5782 views comments | 14 tweets | 2 linkedin
SunGard system glitch causes havoc for BNY...
5484 views comments | 12 tweets | 12 linkedin
Kenya's NIC Bank links to Twitter and What...
5167 views comments | 27 tweets | 14 linkedin
Wirecard bids for Worldpay - Bloomberg
4691 views comments | 10 tweets | 7 linkedin

Featured job

Basic £90-110K OTE circa £200K NO CEILING
London based with substantial travel in Scandinavia

Find your next job