25 September 2016
Find out more

Goldman geeks correctly predict Team GB Olympics medal haul

13 August 2012  |  8767 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  |  5176 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  |  11377 views  |  7 comments
London 2012: The social media Games

London 2012: The social media Games

27 July 2012  |  7471 views  |  0 comments
Visa runs into criticism over Olympic ATM plans

Visa runs into criticism over Olympic ATM plans

01 June 2012  |  8931 views  |  1 comments
Paul the octopus outsmarts banking's brightest quants

Paul the octopus outsmarts banking's brightest quants

12 July 2010  |  12237 views  |  0 comments

Related company news

 

Related company information

Goldman Sachs

Related blogs

Create a blog about this story (membership required)
Find out moreFind out more

Top topics

Most viewed Most shared
Co-habitation with banks key to fintech futureCo-habitation with banks key to fintech fu...
13244 views comments | 34 tweets | 34 linkedin
hands typing furiouslyGoogle's Larry Page buys a 'major global b...
12713 views 0 | 31 tweets | 25 linkedin
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
10044 views comments | 41 tweets | 27 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8085 views comments | 16 tweets | 24 linkedin
Deutsche Bank teams up with accelerator to back fintech startupsDeutsche Bank teams up with accelerator to...
6986 views comments | 12 tweets | 5 linkedin

Featured job

Find your next job