30 April 2017
Visit EBAday.com

Goldman geeks correctly predict Team GB Olympics medal haul

13 August 2012  |  9010 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)

Finextra news in your inbox

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

Related stories

CBA Olympics terrorism YouTube ad bombs

CBA Olympics terrorism YouTube ad bombs

02 August 2012  |  5342 views  |  0 comments
London 2012: Wembley forced to go cash-only after till failure

London 2012: Wembley forced to go cash-only after till failure

30 July 2012  |  11636 views  |  7 comments
London 2012: The social media Games

London 2012: The social media Games

27 July 2012  |  7653 views  |  0 comments
Visa runs into criticism over Olympic ATM plans

Visa runs into criticism over Olympic ATM plans

01 June 2012  |  9153 views  |  1 comments
Paul the octopus outsmarts banking's brightest quants

Paul the octopus outsmarts banking's brightest quants

12 July 2010  |  12574 views  |  0 comments

Related company news

 

Related company information

Goldman Sachs

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comvisit dh.com

Top topics

Most viewed Most shared
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7943 views comments | 16 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
7093 views comments | 17 tweets | 16 linkedin
JPMorgan formally quits R3JPMorgan formally quits R3
6788 views comments | 25 tweets | 15 linkedin
Should central banks open up payment and settlement systems to non-banks?Should central banks open up payment and s...
6250 views comments | 22 tweets | 21 linkedin
Token raises $15.7 million as PSD2 approachesToken raises $15.7 million as PSD2 approac...
6006 views comments | 20 tweets | 20 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job