Hello all, I recently joined Insightful Corporation as Product Manager for Financial Solutions. I continue to hear a theme of R versus S and I find it somewhat curious. R is based on S and has gained a following based on a number of contributions from academia and industry experts. I prefer to view R as one evolutionary path that S has taken. It has the same positives that any other GNU tool that I have seen in my professional life--it is free and open for everyone's use and contribution. This is both it's strength and it's weakness. It is a strength because people can use it as a sandbox for their ideas; it can also be a weakness because it (IMO) does not represent a commercial tool that provides me with stability, product support, and professional services. R is primarily an academic solution. Diethelm Wuertz states, "A major aim is to bring financial algorithms and concepts together under a common software platform and to make it public available mainly for teaching financial engineering and computational finance." and "Rmetrics is embedded in R, both building an environment which creates especially for students and researchers in the third world a first class system for applications in statistics and finance." I don't want to detract from the success of the R language, but if I were going to build solutions in a highly regulated industry that expects documentation, official support and standardization -- I would be inclined toward a commercial solution rather than a freeware solution. This decision comes from twenty years of experience of application development. I recently got this information from the RMETRICS web site. "No warranty for this free software." (GNU License) RMETRICS website states "Use "RMETRICS" at your own risk! For commercial and business applications we recommend to use S-PLUS from www.Insightful.Com" Multiple packages may or may not be supported or standardized Commercial deployment options may be limited (GNU License) As a product manager for Insightful, I can offer the following: Insightful owns the IP (the S Language) and is committed to its ongoing improvement. Insightful provides product support for multiple platforms (Windows, UNIX, Linux) for both desktop and server solutions. Insightful is committed to providing world class solutions to finance, and intends that finance will represent a major part of its market share. S+FinMetrics continues to receive contributions from industry leaders in financial statistics and econometrics. Insightful staff (25% of whom are PhD's) are committed to the support of our customers in finance. And finally, I am personally committed to provide the financial tools and solutions that you (our customers) need and expect. Please feel free to contact me directly if you'd like to discuss R and S or have any questions about Insightful products/services. gcable@insightful.com 800-569-0123 ext. 460 Gary Cable Senior Manager of Finance Insightful Financial Products and Services gcable@insightful.com
R vs. S-PLUS
4 messages · Gary Cable, David Kane, Vadim Ogranovich +1 more
Gary Cable writes: > I recently joined Insightful Corporation as Product Manager for Financial > Solutions. I continue to hear a theme of R versus S and I find it somewhat > curious. The theme that I hear most often is R versus S+, both being implementations of the S language. > it can also be a weakness because it (IMO) does not represent a > commercial tool that provides me with stability, product support, > and professional services. During 2001, I used both R and S+ simultaneously for some relatively serious work. I found R superior then in terms of stability and product support. Others opinions may differ. > R is primarily an academic solution. This is your opinion. Billions of dollars in real assets around the globe are run using R every day. Maybe those managers are all idiots, but I doubt it. > Insightful owns the IP (the S Language) and is committed to its ongoing > improvement. Does Insightful own the S language? I do not believe that this is true. Dave Kane PS. My purpose here is not to start a flame war. I can think of reasons why someone in finance might prefer S+ to R --- easy data retrieval from Factset and Bloomberg comes to mind. But there was no way that I could let a claim about R being "primarily an academic solution" go unchallenged.
-----Original Message----- From: r-sig-finance-bounces@stat.math.ethz.ch [mailto:r-sig-finance-bounces@stat.math.ethz.ch] On Behalf Of Gary Cable Sent: Tuesday, November 30, 2004 9:58 AM To: r-sig-finance@stat.math.ethz.ch Subject: [R-sig-finance] R vs. S-PLUS Hello all, I recently joined Insightful Corporation as Product Manager for Financial Solutions. I continue to hear a theme of R versus S and I find it somewhat curious. R is based on S and has gained a following based on a number of contributions from academia and industry experts. I prefer to view R as one evolutionary path that S has taken. It has the same positives that any other GNU tool that I have seen in my professional life--it is free and open for everyone's use and contribution. This is both it's strength and it's weakness. It is a strength because people can use it as a sandbox for their ideas; it can also be a weakness because it (IMO) does not represent a commercial tool that provides me with stability, product support, and professional services.
Hi Gary, Welcome to the exciting world of S. I guess you are really new to Insightful. My more than a decade experience is different from what you outlined above. I used to use S-Plus until about year 2000 in a company with a decent IT budget. Most of the so called support was coming from the S-news list. I did contact Insightful for support on issues I could not resolve on the S-news list. In both cases the answer was "it is too deep in the language, we can not fix it". One of those issues was related to the introduction of the new S classes in S-Plus (they were basically unusable at that time). A similar introduction in R has recently gone very smoothly. In 2000 or 2001 (R-1.3) I figured R to be a superior system to S-Plus and had switched, some of my fellow colleagues followed the suit. I've found R to be very stable as far as our production requirements are concerned. It has a very predictable release schedule with a procedure for features deprecation and removal so you are never caught by a surprise. The support that comes from R-help list is more than enough and is 24*7*365. The only real drawback is that the language of the replies is sometimes too "mentoring" so sensitive people can get upset (this is where Insightful does have an edge). Bugs get fixed almost instantly. I am sure you know, but just in case, the "no warranty and no support" clauses in GPL are merely to protect the software contributor against lawsuits in some litigious environments, they are not representative of the actual support you are going to have with the software. Please let me know if there is anything else to product support that I didn't address. R is not perfect, with it I too have run into a couple of issues (related to the speed of file reading and database connectivity) which I was not able to resolve on R-help / R-devel list to my satisfaction. In both cases I looked at the underlying C code, figured out the problem and wrote a couple of packages to work around them. I had the very same problems with S-Plus too and the only option I had back then was to use Perl for IO intensive jobs. Now about the professional services. You can get R training, you can hire an R consultant to write a specialized package for you, etc. I was surprised to learn how much of a supply of such services is out there. Sorry if you already knew all of this. I just wanted to give you some info that you might find useful in your new role of the product manager. Regards, Vadim
Gary Cable wrote:
I don't want to detract from the success of the R language, but if I were going to build solutions in a highly regulated industry that expects documentation, official support and standardization -- I would be inclined toward a commercial solution rather than a freeware solution. This decision comes from twenty years of experience of application development.
The usual argument for preferring commercial software is that the commercial software will be better written, tested, documented and supported. The expectation is that the free software will have many bugs, and the commercial software will have few bugs. Perhaps my experience is unusual, but in using S-PLUS for Windows for 4 months I found 2 serious bugs, 2 very annoying bugs and a few minor bugs. In 2.5 years of intense use of R I have found 4 or 5 minor bugs (almost all of which have now been fixed). I don't think playing the "commercial" card for S-PLUS is a good strategy until the point that it has at least as good of quality control as R. Patrick Burns Burns Statistics patrick@burns-stat.com +44 (0)20 8525 0696 http://www.burns-stat.com (home of S Poetry and "A Guide for the Unwilling S User")