Limitations of Nonfinancial Metrics Reported by Social Media Companies

Publicly traded companies in the U.S. are required by the Securities and Exchange Commission (SEC) to file annual and quarterly financial statements (form 10-K and form 10-Q respectively). The Management Discussion and Analysis (MD&A) section of these reports, as per SEC requirements, should include the identification and discussion of nonfinancial performance metrics that are critical to management and important to investors. This paper examines a set of common nonfinancial metrics reported by some well-known social media companies. These metrics include such quantities as number of registered users, monthly average users, and number of unique visitors. The definition and use of metrics such as these have gained increased importance as the recent stratospheric market valuations of a number of social media companies seem to be supported by them, as opposed to more traditional measures, such as profitability. This paper points to a number of limitations of these reported metrics, including that: What a metric actually measures may lie in the details of how it’s calculated; that is, relying on the name of the metric to indicate its meaning may be an error. Many of the metrics reported are inexact but the companies reporting them do not specify ranges of uncertainty around these point estimates. Important nonfinancial metrics (e.g., user demographics and customer churn rates) may simply not be reported at all. Typically, corporate nonfinancial metrics are not audited as is financial data. The contribution of this paper is in providing investors and other interested parties with a better understanding of the meaning and limitations of nonfinancial metrics reported by social media companies. Further, in highlighting some problematic issues in the current reporting of these nonfinancial metrics, we hope to raise interest in improving MD&A reporting standards

Ten Simple Rules for Reproducible Research in Jupyter Notebooks

Reproducibility of computational studies is a hallmark of scientific methodology. It enables researchers to build with confidence on the methods and findings of others, reuse and extend computational pipelines, and thereby drive scientific progress. Since many experimental studies rely on computational analyses, biologists need guidance on how to set up and document reproducible data analyses or simulations. In this paper, we address several questions about reproducibility. For example, what are the technical and non-technical barriers to reproducible computational studies? What opportunities and challenges do computational notebooks offer to overcome some of these barriers? What tools are available and how can they be used effectively? We have developed a set of rules to serve as a guide to scientists with a specific focus on computational notebook systems, such as Jupyter Notebooks, which have become a tool of choice for many applications. Notebooks combine detailed workflows with narrative text and visualization of results. Combined with software repositories and open source licensing, notebooks are powerful tools for transparent, collaborative, reproducible, and reusable data analyses

Valuing A B2B Website: A Case Study Of An Industrial Products Supplier

In this research we examine the value of a business-to-business (B2B) website of an industrial products supplier by tracking website metrics (e.g., visitors, pages/visit, time per visit, etc.), along with the associated (non-Web-based) financial measures of sales, profit and amount of merchandise sold. We recorded this data over a 15 month period that included a significant mail promotion. Our results indicate that while the promotion dramatically increased visits to the websites, it had no positive effect on sales, profit or quantity of material sold. Generally, there was no relationship between website visits and monetary measures

The Trilemma of 2020: Understanding Higher Education’s Fall 2020 Reopening Decision Amidst the COVID Crisis

In the summer of 2020, as the COVID-19 pandemic continued to spread around the world, institutions of higher education were faced with three options in terms of their teaching modality for fall 2020: resume in-person education, switch to online delivery, or adopt a hybrid approach. This observational research study aims to tease out the variables that explain the decisions announced in summer 2020 by various colleges and universities in the United States for their planned instruction for fall 2020. We propose and test eight hypotheses related to the decision. The study found statistical confirmation that universities with higher financial stability and/or prestige tended to select the online delivery option, while lower financial stability/prestige showed a preference to stay with in-person delivery. We also found public institutions were more likely to go online than private ones. Additionally, we found statistical support for our hypotheses that universities located in Republican leaning states and also those with a religious affiliation would prefer the in-person modality. The results also confirmed our hypothesis that universities offering a higher percentage of humanities degrees would have a greater probability of choosing the in-person modality. Interestingly, we did not find statistical support for our hypothesis that the level of COVID spread in the geographical area of a university’s location would affect its decision

Interlaboratory study for coral Sr/Ca and other element/Ca ratio measurements

The Sr/Ca ratio of coral aragonite is used to reconstruct past sea surface temperature (SST). Twentyone laboratories took part in an interlaboratory study of coral Sr/Ca measurements. Results show interlaboratory bias can be significant, and in the extreme case could result in a range in SST estimates of 7°C. However, most of the data fall within a narrower range and the Porites coral reference material JCp- 1 is now characterized well enough to have a certified Sr/Ca value of 8.838 mmol/mol with an expanded uncertainty of 0.089 mmol/mol following International Association of Geoanalysts (IAG) guidelines. This uncertainty, at the 95% confidence level, equates to 1.5°C for SST estimates using Porites, so is approaching fitness for purpose. The comparable median within laboratory error is <0.5°C. This difference in uncertainties illustrates the interlaboratory bias component that should be reduced through the use of reference materials like the JCp-1. There are many potential sources contributing to biases in comparative methods but traces of Sr in Ca standards and uncertainties in reference solution composition can account for half of the combined uncertainty. Consensus values that fulfil the requirements to be certified values were also obtained for Mg/Ca in JCp-1 and for Sr/Ca and Mg/Ca ratios in the JCt-1 giant clam reference material. Reference values with variable fitness for purpose have also been obtained for Li/Ca, B/Ca, Ba/Ca, and U/Ca in both reference materials. In future, studies reporting coral element/Ca data should also report the average value obtained for a reference material such as the JCp-1

Why do people file share unlawfully? A systematic review, meta-analysis and panel study

Unlawful digital media sharing is common and believed to be extremely damaging to business. Understanding unlawful file sharers’ motivations offers the opportunity to develop business models and behavioral interventions to maximize consumers’ and businesses’ benefit. This paper uses a systematic review of unlawful file sharing research, and the Theory of Planned Behavior, to motivate a large-scale panel study in which initial determinants were used to predict subsequent behavior. A meta-analysis found Attitudes, Subjective Norms and Perceived Behavioral Control were all associated with unlawful file sharing. Media type and demographic differences in the importance of Perceived Behavioral Control were found and attributed to more accurate evaluation of familiar activities, i.e., greater experience increases the influence of Perceived Behavioral Control but age does not. The panel study confirmed that greater past experience was associated with Perceived Behavioral Control and Intention. We conclude that past experience increases the efficacy of the Theory of Planned Behavior and specifically Perceived Behavioral control in predicting behavior, contrary to some widely held beliefs about the role of experience. The role of experience is therefore crucial to understanding people’s choices. Practically, improving social approval, positive evaluation and access to lawful media should reduce unlawful behavior

Reconstruction of primary vertices at the ATLAS experiment in Run 1 proton–proton collisions at the LHC

This paper presents the method and performance of primary vertex reconstruction in proton–proton collision data recorded by the ATLAS experiment during Run 1 of the LHC. The studies presented focus on data taken during 2012 at a centre-of-mass energy of √s=8 TeV. The performance has been measured as a function of the number of interactions per bunch crossing over a wide range, from one to seventy. The measurement of the position and size of the luminous region and its use as a constraint to improve the primary vertex resolution are discussed. A longitudinal vertex position resolution of about 30μm is achieved for events with high multiplicity of reconstructed tracks. The transverse position resolution is better than 20μm and is dominated by the precision on the size of the luminous region. An analytical model is proposed to describe the primary vertex reconstruction efficiency as a function of the number of interactions per bunch crossing and of the longitudinal size of the luminous region. Agreement between the data and the predictions of this model is better than 3% up to seventy interactions per bunch crossing

Posterior transdural discectomy: a new approach for the removal of a central thoracic disc herniation

BACKGROUND: The optimal surgical approach for thoracic disc herniation remains a matter of debate, especially for central disc herniation. In this paper, we present a new technique to remove central thoracic disc herniation, the posterior transdural approach, and report a series of 13 cases operated on in this way at our institute. METHODS: Between September 2004 and October 2010, 13 patients with symptomatic central thoracic disc herniation were operated on, utilising this posterior transdural approach. All patients underwent magnetic resonance imaging (MRI) of the thoracic spine before surgery. All patients were followed at our outpatient department for at least 3 months. In addition, all patients were interviewed in April 2009 and February 2011 to evaluate the final results. A seven-point Likert scale was applied and the Frankel score was determined preoperatively and postoperatively. Additionally, a postoperative MRI was obtained for all but two patients. RESULTS: The most frequently involved levels were T10-11 and T12-L1. Median operative time was 210 min (range 140-360). Three patients experienced reversible complications. No patient required spinal fixation. The median duration of hospitalisation was 6 days (range 4-20 days). With a median follow-up of 18 months, symptoms improved in 12 patients (92%), including the three patients with complications. One patient was unchanged (8%), while none of the patients experienced worsening of symptoms. CONCLUSIONS: The posterior transdural approach is well tolerated by the patient and has a relatively high success rate. It is a relatively simple and safe procedure, suitable for the operative treatment of almost all types of thoracic disc herniation, but especially the centrally located disc herniation