$) Udphzruniru'Dwd&Hqwhu6Lwh5Lvn0Hwulf: 0Rlvhv/Hy/ 'Dqlho5Dyly

You might also like

Download as pdf or txt
Download as pdf or txt
You are on page 1of 7

$)UDPHZRUNIRU'DWD&HQWHU6LWH5LVN0HWULF

0RLVHV/HY\ 'DQLHO5DYLY
'HSDUWPHQWRI&RPSXWHU (OHFWULFDO 'HSDUWPHQWRI&RPSXWHU (OHFWULFDO
(QJLQHHULQJDQG&RPSXWHU6FLHQFH (QJLQHHULQJDQG&RPSXWHU6FLHQFH
)ORULGD$WODQWLF8QLYHUVLW\ )ORULGD$WODQWLF8QLYHUVLW\
%RFD5DWRQ)/86$ %RFD5DWRQ)/86$
POHY\#IDXHGX UDYLYG#IDXHGX


Abstract– Given the mission critical nature of data centers, metrics RIWKHWKUHDWDQGWKHSHUFHSWLRQRIDVSHFLILFWKUHDWULVNDWWLWXGHV
must provide a holistic understanding of the data center behavior, DQGWROHUDQFHV>@)RUWKHSXUSRVHRIWKLVSDSHUZHGHILQHULVN
which is only viable if risks to the actual operation are considered. DVWKHSURGXFWRIWKHSUREDELOLW\RIRFFXUUHQFHRIDQHYHQWWLPHV
This paper proposes a framework for measuring data center site risk. LWV LPSDFW 5LVN FDQ EH GHVFULEHG DV D FDXVDO V\VWHP ZKHUH
The proposed methodology is aimed at standardizing a process to RXWSXWGHSHQGVRQSUHVHQWDQGSDVWLQSXWV
help evaluate data center sites and compare them to each other, or
compare different scenarios where the data center operates. It  7KHLPSDFWRIIDLOXUHRQDGDWDFHQWHULVW\SLFDOO\PDMRUDV
establishes a process under defined criteria for the site risk analysis, ODFN RI DFFHVV WR LQIRUPDWLRQ HQWDLOV KLJK FRVWV $FFRUGLQJ WR
despite the fact that much of that criteria is based on standards and VWDQGDUGV EHVW SUDFWLFHV DQG XVHU QHHGV GDWD FHQWHU
expert knowledge. The metric is also a way to communicate and LQIUDVWUXFWXUH PXVW VDWLVI\ VWULQJHQW WHFKQLFDO UHTXLUHPHQWV LQ
better understand risks due to the data center location, and help RUGHUWRJXDUDQWHHUHOLDELOLW\DYDLODELOLW\DQGVHFXULW\,QDGDWD
evaluate mitigation strategies. FHQWHU VHYHUDO WKUHDWV FDQ FDXVH IDLOXUHV LQFOXGLQJ WHFKQLFDO
LVVXHV DQG KXPDQ HUURU ,Q WKH 8QLWHG 6WDWHV WKHUH DUH
Index Terms – Data center, site, location, risk, metric. DSSUR[LPDWHO\  PLOOLRQ GDWD FHQWHUV UHSUHVHQWLQJ RQH GDWD
,,1752'8&7,21 FHQWHUIRUHYHU\SHRSOH>@7KHFRVWRIGRZQWLPHGHSHQGV
RQWKHLQGXVWU\UHDFKLQJWKRXVDQGVRIGROODUVSHUPLQXWH7KH
$ GDWD FHQWHU FDQ EH GHILQHG DV D IDFLOLW\ ZLWK DOO RI WKH DYHUDJH FRVW DVVRFLDWHG ZLWK GDWD FHQWHU GRZQWLPH IRU DQ
UHVRXUFHVUHTXLUHGIRUVWRUDJHSURFHVVLQJDQGVKDULQJRIGLJLWDO XQSODQQHG RXWDJH LV DSSUR[LPDWHO\   SHU PLQXWH DQ
LQIRUPDWLRQ 'DWD FHQWHUV FRPSULVH WKH UHTXLUHG LQIUDVWUXFWXUH LQFUHDVH RI DERXW  IURP  WR  >@ +RZHYHU WKH
HJ SRZHU HQYLURQPHQWDO FRQWURO WHOHFRPPXQLFDWLRQV LQWDQJLEOHORVVHVVXFKDVEXVLQHVVFRQILGHQFHDQGUHSXWDWLRQDUH
VHFXULW\ ILUH SURWHFWLRQ DXWRPDWLRQ  DQG LQIRUPDWLRQ GLIILFXOWWRTXDQWLI\(IIRUWVXQGHUWDNHQWRUHGXFHWKHWKUHDWVDQG
WHFKQRORJ\HTXLSPHQW HJVHUYHUVIRUSURFHVVLQJGDWDVWRUDJH YXOQHUDELOLWLHVLQFOXGHWKHFUHDWLRQRIOHJLVODWLRQVWDQGDUGVDQG
DQG FRPPXQLFDWLRQ HTXLSPHQW  'DWD FHQWHUV DUH HQHUJ\ EHVWSUDFWLFHVWRIROORZZKHQGHVLJQLQJEXLOGLQJDQGRSHUDWLQJ
LQWHQVLYH PXOWLYDULDEOH FRPSOH[HV :LWK WRGD\¶V VLJQLILFDQW DGDWDFHQWHU
DQGLQFUHDVLQJUHOLDQFHRQGLJLWDOLQIRUPDWLRQGDWDFHQWHUVSOD\
DNH\UROHLQPDNLQJVXUHWKLVLQIRUPDWLRQLVVHFXUHO\VWRUHGDQG 7KHPDLQPRWLYDWLRQRIWKLVSDSHULVWRSURSRVHDIUDPHZRUN
FRQVWDQWO\DYDLODEOHIRUXVHUV:LWKVXEVWDQWLDOH[SHFWHGJURZWK IRU D GDWD FHQWHU PHWULF WKDW TXDQWLWDWLYHO\ HVWLPDWHV WKH VLWH
LQWKLVVHFWRUWKHUHLVDQHHGWRUHGXFHWKHRYHUDOOULVNIRUGDWD ULVNV'DWDFHQWHUORFDWLRQUHSUHVHQWVRQHRIWKHPDLQH[WHUQDO
FHQWHUV ULVNVWKDWFDQLPSDFWLWVSHUIRUPDQFH$VLWHULVNPHWULFFDQDGG
YDOXH WR LGHQWLI\ HVWLPDWH DQG FRPPXQLFDWH WKH GLIIHUHQW
7KH PHDQLQJ RI ULVN KDV HYROYHG RYHU WLPH WR UHSUHVHQW GHJUHHVRIULVNWKDWDUHSUHVHQWDWWKHVLWHZKHUHWKHGDWDFHQWHU
GLIIHUHQW FRQFHSWV ,Q LWV RULJLQV WKH ZRUG ULVN ZDV DVVRFLDWHG LVORFDWHG7KHJRDOLVWRVWDQGDUGL]HDSURFHVVWKDWEHFRPHVD
ZLWK XQFHUWDLQW\ RI HYHQWV QRW FDXVHG E\ KXPDQV :LWK SDWKIRUEHVWSUDFWLFHWKDWFDQKHOSXQGHUVWDQGWKHGDWDFHQWHU
HQKDQFHG LQGXVWULDOL]DWLRQ LW LQFRUSRUDWHG ERWK VRFLDO DQG VLWHULVNV7KHH[SHFWHGORQJWHUPRXWFRPHRIWKLVDSSURDFKLV
QDWXUDO SRWHQWLDO FDXVHV IRU XQGHVLUDEOH HYHQWV 5LVN ZDV WKHQ WR KHOS LQ UHGHILQLQJ VWDQGDUGV VR WKDW LPSRUWDQW FRPSRQHQWV
PHDVXUHG DV D NQRZQ SUREDELOLW\ RI DQ HYHQW RFFXUULQJ DQG QDPHO\ ULVN  WKDW DUH FXUUHQWO\ EHLQJ RYHUORRNHG DUH
FRQWUDVWHG ZLWK WKH FRQFHSW RI XQFHUWDLQW\ ZKLFK HQWDLOHG LQFRUSRUDWHG7KLVSDSHUDGGVWHFKQLFDODQGVFLHQWLILFVXSSRUWWR
XQNQRZQ SUREDELOLW\ 5LVN ZDV ODWHU GHILQHG DV D QHXWUDO H[LVWLQJ WKHRUHWLFDO DQG SUDFWLFDO ZRUN WKDW KDV PRVWO\ EHHQ
FRQFHSWLQGLFDWLQJWKHOLNHOLKRRGRIDQHYHQWRFFXUULQJOLQNHG FDUULHGRXWIURPRXWVLGHDFDGHPLD
WRLWVFRQVHTXHQFHVERWKORVVHVDQGJDLQV&XUUHQWO\SHRSOHXVH
WKHZRUGULVNFROORTXLDOO\WRLPSO\GDQJHUWKUHDWRUKD]DUG>@ ,,%$&.*5281'
3URMHFW 0DQDJHPHQW ,QVWLWXWH GHILQHV ULVN DV DQ XQFHUWDLQ RU 6LQFH WKH GHUHJXODWLRQ RI WHOHFRPPXQLFDWLRQV LQ WKH 86
XQIRUHVHHQ HYHQW WKDW LI LW RFFXUV ZLOO LPSDFW D SURMHFW¶V WKURXJK WKH 7HOHFRPPXQLFDWLRQV $FW RI  D QXPEHU RI
REMHFWLYH>@>@5LVNFDQKDYHRQHRUPDQ\FDXVHVDQGDOVR VWDQGDUGVDQGEHVWSUDFWLFHVUHODWHGWRWHOHFRPPXQLFDWLRQVDQG
FDQKDYHRQHRUPRUHLPSDFWV2UJDQL]DWLRQVDQGVWDNHKROGHUV PRUH UHFHQWO\ WR WKH GDWD FHQWHU LQGXVWU\ KDYH HPHUJHG
PD\EHWROHUDQWWRGLIIHUHQWULVNOHYHOVIRUDYDULHW\RIUHDVRQV $SSURSULDWHVWDQGDUGVDUHWKHREYLRXVGLUHFWLRQWRORRNDWZKHQ
VXFKDVWKHLPSDFWRQWKHIDFLOLW\WKHSUREDELOLW\RIRFFXUUHQFH GHVLJQLQJ RU HYDOXDWLQJ D GDWD FHQWHU IURP QDWLRQDO FRGHV

978-1-5386-1104-3/17/$31.00 ©2017 IEEE 9


UHTXLUHG ORFDODQGFRXQWU\FRGHV UHTXLUHG DQGSHUIRUPDQFH SROLWLFDOVWDELOLW\DQG*'3SHUFDSLWD>@7KHLQGH[LVPDLQO\
VWDQGDUGV RSWLRQDO  *RYHUQPHQWV DOVR LPSRVH UHJXODWRU\ GHVLJQHGWRFRQWULEXWHRQGHFLVLRQVEDVHGRQWKHULVNSURILOHRI
VWDQGDUGV RQ GDWD FHQWHUV GHSHQGLQJ RQ WKH QDWXUH RI WKH WKH FRXQWU\ DOWKRXJK LW GRHV QRW WDNH LQWR DFFRXQW VSHFLILF
EXVLQHVV 2UJDQL]DWLRQV VXFK DV 86 'HSDUWPHQW RI (QHUJ\ EXVLQHVV UHTXLUHPHQWV RU WKH IDFW WKDW VRPH ULVNV FDQ EH
86 (QYLURQPHQWDO 3URWHFWLRQ $JHQF\ 86 *UHHQ %XLOGLQJ PLWLJDWHG
&RXQFLO ,QWHUQDWLRQDO 2UJDQL]DWLRQ IRU 6WDQGDUGL]DWLRQ
1DWLRQDO,QVWLWXWHRI6WDQGDUGVDQG7HFKQRORJ\1DWLRQDO)LUH 7KH86'DWD&HQWHU8VDJH5HSRUW -XQH >@VWDWHV
3URWHFWLRQ $VVRFLDWLRQ ,QVWLWXWH RI (OHFWULFDO DQG (OHFWURQLFV WKH QHHG IRU IXWXUH UHVHDUFK RQ SHUIRUPDQFH PHWULFV IRU GDWD
(QJLQHHUV$PHULFDQ6RFLHW\RI+HDWLQJ5HIULJHUDWLQJDQG$LU FHQWHUV WR KHOS EHWWHU XQGHUVWDQG DUHDV RI LPSURYHPHQW $IWHU
&RQGLWLRQLQJ (QJLQHHUV 7HOHFRPPXQLFDWLRQ ,QGXVWU\ WKRURXJKO\ UHYLHZLQJ H[LVWLQJ GDWD FHQWHU PHWULFV >@
$VVRFLDWLRQ %,&6, %XLOGLQJ ,QGXVWU\ &RQVXOWLQJ 6HUYLFH LQFOXGLQJ HQHUJ\ HIILFLHQF\ PHWULFV SURGXFWLYLW\ PHWULFV
,QWHUQDWLRQDO,QF 8SWLPH,QVWLWXWH7KH*UHHQ*ULG(XURSHDQ LQIRUPDWLRQ WHFKQRORJ\ HTXLSPHQW HIILFLHQF\ PHWULFV DQG
&RPPLVVLRQ (8 &RGH RI &RQGXFW IRU 'DWD &HQWUHV  -DSDQ VXVWDLQDELOLW\ PHWULFV ZH FDQ FRQFOXGH WKDW WKH\ DUH YHU\
'DWD &HQWHU &RXQFLO *UHHQ ,7 3URPRWLRQ &RXQFLO RI -DSDQ VSHFLILFGRQRWWDNHLQWRDFFRXQWWKHRYHUDOOSHUIRUPDQFHRIWKH
6LQJDSRUH6WDQGDUGV&RXQFLODQGRWKHUVKDYHPDGHVLJQLILFDQW GDWD FHQWHU DQG IDLO WR LQFRUSRUDWH LPSRUWDQW DVSHFWV VXFK DV
FRQWULEXWLRQV WR WKH FUHDWLRQ RI VWDQGDUGV UHFRPPHQGDWLRQV GDWD FHQWHU VSDFH W\SHV HJ K\SHUVFDOH VHUYLFH SURYLGHU
EHVWSUDFWLFHVDQGRWKHUGRFXPHQWVIRUWKH'DWD&HQWHULQGXVWU\ LQWHUQDO VHUYHU URRP VHUYHU FORVHW >@  WLHU OHYHOV RI WKH
LQIUDVWUXFWXUH>@DQGWKHULVNWKDWWKHGDWDFHQWHULVH[SRVHG
6RPH VWDQGDUGV UHODWHG WR GDWD FHQWHUV PDNH JHQHUDO WR,QSUHYLRXVZRUN>@WKHDXWKRUVKDYHSURSRVHGDGDWDFHQWHU
UHFRPPHQGDWLRQV WKDW VKRXOG EH WDNHQ LQWR DFFRXQW ZKHQ PXOWLGLPHQVLRQDOVFRUHFDUGFRPSULVHGRISHUIRUPDQFHDQGULVN
HYDOXDWLQJDORFDWLRQIRUDGDWDFHQWHU7KHVWDQGDUG$16,7,$ WR SURYLGH D FRPSUHKHQVLYH XQGHUVWDQGLQJ RI WKH GDWD FHQWHU
$ ³7HOHFRPPXQLFDWLRQV ,QIUDVWUXFWXUH 6WDQGDUG IRU 'DWD EHKDYLRU$VVKRZQLQ)LJSHUIRUPDQFHLVH[DPLQHGDFURVV
&HQWHUV´>@KDVDQLQIRUPDWLYHDQQH[ZLWKJHQHUDOJXLGHOLQHV IRXU GLIIHUHQW VXEGLPHQVLRQV SURGXFWLYLW\ HIILFLHQF\
IRU WKH GDWD FHQWHU VLWH VHOHFWLRQ DQG EXLOGLQJ GHVLJQ FULWHULD VXVWDLQDELOLW\DQGRSHUDWLRQV,QDGGLWLRQULVNDVVRFLDWHGZLWK
UHODWHG WR DUFKLWHFWXUDO HOHFWULFDO WHOHFRPPXQLFDWLRQV HDFK RI WKRVHVXEGLPHQVLRQV PXVW EH FRQWHPSODWHG ([WHUQDO
PHFKDQLFDOVHFXULW\DQGRWKHUV\VWHPV,QDGGLWLRQLWSUHVHQWV ULVNVDUHFRQVLGHUHGLQGHSHQGHQWO\RISHUIRUPDQFH
JXLGHOLQHVGHSHQGLQJRQWKHOHYHORIUHVLOLHQF\RIWKHGDWDFHQWHU
IDFLOLW\ LQIUDVWUXFWXUH 7KH VWDQGDUG $16,%,&6, ³'DWD
&HQWHU'HVLJQDQG,PSOHPHQWDWLRQ%HVW3UDFWLFHV´>@SURYLGHV
DFKDSWHUZLWKUHFRPPHQGDWLRQVWRVHOHFWDVLWHIRUDGDWDFHQWHU
LQFOXGLQJVLWHHYDOXDWLRQQDWXUDOKD]DUGVQDWXUDOHQYLURQPHQW
PDQPDGHKD]DUGVVLWHDFFHVVDQGORFDWLRQXWLOLW\VHUYLFHVDQG
UHJXODWLRQV 7KH (XURSHDQ VWDQGDUG %6 (1 
³,QIRUPDWLRQ WHFKQRORJ\  'DWD &HQWUH IDFLOLWLHV DQG
LQIUDVWUXFWXUHV 3DUW  %XLOGLQJ FRQVWUXFWLRQ´ >@ FRQWDLQV
JHQHUDOUHTXLUHPHQWVDQGUHFRPPHQGDWLRQVIRUWKHDVVHVVPHQW
RI ORFDWLRQ LQFOXGLQJ JHRJUDSKLFDO ORFDWLRQ HQYLURQPHQWDO
IDFWRUVDGMDFHQFLHVLQIUDVWUXFWXUHEXGJHWDQGUHJXODWLRQV
3UHYLRXV ZRUN RQ GDWD FHQWHU ULVN LQFOXGHV UHVHDUFK IRU
VSHFLILFDUHDVVXFKDVDLUIORZDQGWHPSHUDWXUHULVN>@SRZHU
GLVWULEXWLRQV\VWHPVULVN>@OLIHF\FOHFRVWXVLQJDULVNDQDO\VLV

PRGHO >@ ULVN IRU FORXG GDWD FHQWHU RYHUERRNLQJ >@ ULVN
PDQDJHPHQW IRU YLUWXDO PDFKLQHV FRQVROLGDWLRQ >@ ULVN )LJ'DWDFHQWHUPXOWLGLPHQVLRQDOPHWULF>@
PDQDJHPHQW XQGHU VPDUW JULG HQYLURQPHQW >@ DQG ULVN IRU &XUUHQWO\WKHUHLVDQHHGIRUGDWDFHQWHUPHWULFVWKDWH[DPLQH
GDWDFHQWHURSHUDWLRQVLQGHUHJXODWHGHOHFWULFLW\PDUNHWV>@,Q VLWHULVN$GDWDFHQWHUPD\KDYHKLJKSHUIRUPDQFHLQGLFDWRUV
DGGLWLRQ WKHUH KDYH EHHQ GLIIHUHQW SURSRVDOV WR LQFRUSRUDWH EXWEHORFDWHGDWDVLWHZLWKDKLJKULVNRIIDLOXUH+DYLQJWKLV
SUREDELOLW\ DQG ULVN WR GDWD FHQWHU NH\ LQGLFDWRUV VXFK DV WKH LQIRUPDWLRQ PD\ ZRUN DV DQ HDUO\ ZDUQLQJ V\VWHP VR WKDW
&ODVV PHWULF DQG WKH µ'DWD &HQWHU 5LVN ,QGH[¶ 7KH SURSRVHG PLWLJDWLRQVWUDWHJLHVDQGDFWLRQVDUHXQGHUWDNHQLQDGYDQFH$Q
&ODVVPHWULFLQGLFDWHVWKHSUREDELOLW\RIIDLOXUHRIDGDWDFHQWHU LPSRUWDQWVWUDWHJ\WRUHGXFHSUREDELOLW\RIIDLOXUHLVDEDFNXS
LQ WKH QH[W  PRQWKV DQG WKH DVVRFLDWHG ULVN LV WKH &ODVV VLWHRUDQDOWHUQDWHVLWHWKLVEHLQJSDUWRIWKHGLVDVWHUUHFRYHU\
PXOWLSOLHGE\WKHFRQVHTXHQFHV>@7KH&ODVVPHWULFLVEDVHG VWUDWHJ\RUWKHEXVLQHVVFRQWLQXLW\VWUDWHJ\
RQWKHVWDQGDUG,(((³,(((UHFRPPHQGHGSUDFWLFHIRU
GHWHUPLQLQJWKHUHOLDELOLW\RI[FRQWLQXRXVSRZHUV\VWHPVLQ 'DWDFHQWHUVWDQGDUGVDQGEHVWSUDFWLFHVHYROYHFRQWLQXDOO\
LQGXVWULDO DQG FRPPHUFLDO IDFLOLWLHV´ >@ ZKHUH &ODVV LV DGDSWLQJWRHPHUJLQJQHHGVWRDGGUHVVQHZNH\LVVXHVVXFKDV
GHILQHG DV RQH PLQXV WKH UHOLDELOLW\ 7KH µ'DWD &HQWHU 5LVN HQHUJ\ FRQVXPSWLRQ DXWRPDWHG PRQLWRULQJ SURGXFWLYLW\
,QGH[¶UDQNVGLIIHUHQWFRXQWULHVUHODWHGWRWKHSUREDELOLW\RIWKH PHDVXUHPHQWVDQGVXVWDLQDELOLW\FKDOOHQJHV'XHWRLWVHOHYDWHG
IDFWRUV WKDW DIIHFW WKH RSHUDWLRQV RI WKH IDFLOLW\ 7KRVH IDFWRUV FRVWDQGPLVVLRQFULWLFDOWDVNGDWDFHQWHUVPXVWEHGHVLJQHGDQG
LQFOXGH HQHUJ\ FRVW DQG VHFXULW\  WHOHFRPPXQLFDWLRQV EXLOWWRPHHWWKHPLQLPXPVWDQGDUGZKLFKDVVXUHVEDVLFVHWRI
EDQGZLGWK  VXVWDLQDELOLW\ DOWHUQDWLYH HQHUJ\  ZDWHU GHVLUHG SHUIRUPDQFHV +RZHYHU PLQLPXP VWDQGDUGV GR QRW
DYDLODELOLW\ QDWXUDO GLVDVWHU HDVH RI GRLQJ EXVLQHVV WD[HV WUDQVODWH LQWR EHVW SUDFWLFHV ZKHQ WKH JRDO LV DFKLHYLQJ WKH
KLJKHVWSRVVLEOHUHOLDELOLW\ZLWKWKHPLQLPDOO\GHVLUHGULVN


10
,,,'$7$&(17(56,7(5,6.0(75,& UHOHYDQFHDQGLPSDFW,GHQWLI\LQJSRWHQWLDOWKUHDWVLVDQLWHUDWLYH
0HWULFV FDQ EH GHILQHG DV PHDVXUHV RI TXDQWLWDWLYH SURFHVVFRQVLGHULQJQHZWKUHDWVRUYXOQHUDELOLWLHVFDQHPHUJH
DVVHVVPHQW LQ RUGHU WR FRPSDUH RU WUDFN GLIIHUHQW SDUDPHWHUV WKURXJK WKH GDWD FHQWHU OLIH F\FOH ,Q WKH SURMHFW PDQDJHPHQW
RYHU WLPH 7KURXJK GLIIHUHQW PHWULFV GDWD FHQWHUV FDQ EH FRQWH[W WKH LGHQWLILFDWLRQ RI ULVNV FDQ EH DVVRFLDWHG ZLWK
HYDOXDWHGLQFRPSDULVRQZLWKWKHJRDOVHVWDEOLVKHGRUWRVLPLODU SRVLWLYHRXWFRPHV RSSRUWXQLWLHV LQFDVHVZKHUHULVNVDUHIRXQG
GDWDFHQWHUV,QFRQVLVWHQFLHVRUYDULDWLRQVLQPHDVXUHPHQWVFDQ RQWLPHDQGDFWLRQVDUHXQGHUWDNHQWRPLWLJDWHWKHPRUQHJDWLYH
SURGXFHDIDOVHUHVXOWIRUDPHWULFDQGIRUWKDWUHDVRQLWLVYHU\ RXWFRPHV FULVLV  ZKHQ ULVNV FDQQRW EH RU KDYH QRW EHHQ
LPSRUWDQWWRVWDQGDUGL]HPHWULFV0XFKRIWKHFXUUHQWPHWULFV PLWLJDWHG $ KLHUDUFKLFDOO\ FODVVLILFDWLRQ ZLWK FDWHJRULHV DQG
VWDQGDUGVDQGOHJLVODWLRQVRQGDWDFHQWHUVDUHIRFXVHGDWHQHUJ\ VXEFDWHJRULHV NQRZQ DV ULVN EUHDNGRZQ VWUXFWXUH >@ LV
HIILFLHQF\DVWKLVKDVSURYHQWREHDFKDOOHQJHJLYHQWKHUDSLG UHFRPPHQGHG5LVNVFDQDOVREHSULRULWL]HGGHSHQGLQJRQWKH
JURZWKRIWKHVHFWRUDQGLWVHQHUJ\LQWHQVLYHQDWXUH SRWHQWLDO LPSDFW 'LIIHUHQW WKUHDWV DUH SUHYLRXVO\ LGHQWLILHG LQ
VWDQGDUGV LQ>@>@>@ DQGVHUYHDVWKHEDVHOLQH
 2SWLPL]DWLRQLQYROYHVULVN$KROLVWLFXQGHUVWDQGLQJRIWKH
GDWDFHQWHUFDQQRWEHFRPSOHWHLIWKHULVNVWKDWPD\LPSDFWWKH 7DEOHVKRZVWKHWKUHDWVDQGWKHSURSRVHGZHLJKWV7KH\
GDWDFHQWHUDUHQRWFRQVLGHUHG7KLVPHWULFLQWHQGVWRPHDVXUH DUH GLYLGHG LQWR IRXU PDLQ FDWHJRULHV )ROORZLQJ LV D EULHI
WKHDVVRFLDWHGULVNWRWKHGDWDFHQWHUORFDWLRQ7KDWZD\WKHXVHU GHVFULSWLRQRIHDFKSURSRVHGWKUHDWFDWHJRU\
PD\LPSOHPHQWDFWLRQVWRDFKLHYHDGHVLUHGOHYHORIULVN 7$%/(7KUHDWVDQGYXOQHUDELOLWLHVFDWHJRULHVDQGZHLJKW

 8QOLNH HIILFLHQF\ PHWULFV ZKHUH GDWD FHQWHU LQIUDVWUXFWXUH 7KUHDWVDQGYXOQHUDELOLWLHV :HLJKW ܹ௜ 


PRQLWRULQJDQGPDQDJHPHQWV\VWHPVFROOHFWGDWD HJSRZHU 8WLOLWLHV 
GHOLYHUHGIRU,7HTXLSPHQWSRZHUUHTXLUHGIRUWKHWRWDOIDFLOLW\ 
1DWXUDOKD]DUGVDQGHQYLURQPHQW 
LQUHDOWLPH>@>@WKHGDWDFHQWHUVLWHULVNPHWULFLQYROYHV
SDUDPHWHUVZKRVHGDWDFDQQRWEHHDVLO\DXWRPDWHG,QLWVSODFH 7UDQVSRUWDWLRQDQGDGMDFHQWSURSHUWLHV 
DXGLWVKXPDQREVHUYDWLRQHYDOXDWLRQDQGDQDO\VLVDUHUHTXLUHG 2WKHU 
DQG PXVW EH XSGDWHG SHULRGLFDOO\ ,W VKRXOG EH QRWHG WKDW
JDWKHULQJWKHUHOHYDQWGDWDDQGXQGHUVWDQGLQJLWVQDWXUHLVPRUH 8WLOLWLHV7KHPDLQWDVNRIDGDWDFHQWHULVWRVWRUHSURFHVV
LPSRUWDQWWKDQVLPSO\FROOHFWLQJPRUHGDWD>@([WHUQDOULVNV DQGVKDUHGLJLWDOLQIRUPDWLRQ,QDGGLWLRQGDWDFHQWHUVDUHHQHUJ\
DUHG\QDPLFVRWKH\PD\FKDQJHRYHUWLPH5LVNPHWULFVVKRXOG LQWHQVLYHIDFLOLWLHV,WLVRIXWPRVWLPSRUWDQFHIRUWKHORFDWLRQWR
WKHUHIRUHEHSHULRGLFDOO\PHDVXUHGWRJXDUDQWHHVFRUHUHOLDELOLW\ KDYH DFFHVV WR UHOLDEOH KLJK SRZHU TXDOLW\ DQG KLJK VSHHG
WHOHFRPPXQLFDWLRQV VHUYLFHV ZKLFK DUH XVXDOO\ SURYLGHG E\
7KH ILUVW DXWKRU RI WKLV SDSHU KDV SUHYLRXVO\ ZRUNHG RQ D WKLUGSDUWLHV)RUWKLVUHDVRQWKHFDWHJRU\µXWLOLWLHV¶LVOLVWHGDV
SURSRVDOWRLGHQWLI\SRWHQWLDOWKUHDWVDQGLPSDFWVDVVRFLDWHGZLWK WKHILUVWRQH$FFHVVWRRWKHUVHUYLFHVVXFKDVZDWHUVHZDJHDQG
WKHGDWDFHQWHUORFDWLRQ>@ZKLFKVHUYHVDVDEDVHOLQHIRUWKH RWKHUHQHUJ\VRXUFHVRIFRQYHQWLRQDO HJQDWXUDOJDVGLHVHO
SURSRVHGPHWKRGRORJ\7KLVSURSRVDOGHDOVZLWKWKHDQDO\VLVRI SURSDQH  RUUHQHZDEOH HQHUJ\ HJ VRODUZLQG  PXVW DOVREH
H[WHUQDOULVNIDFWRUVWKDWPD\WKUHDWHQWKHGDWDFHQWHU7KHGDWD WDNHQLQWRFRQVLGHUDWLRQ
FHQWHU¶VPDLQSXUSRVHDVDSODFHWRVWRUHVHQVLWLYHLQIRUPDWLRQ
WKDWRXJKWWREHSURWHFWHGPXVWEHWDNHQLQWRFRQVLGHUDWLRQ'DWD 1DWXUDO KD]DUGV DQG HQYLURQPHQW /RFDWLRQV ZLWK KLJK
FHQWHUIDFLOLWLHVVKRXOGEHGHVLJQHGXQGHUVWULFWVWDQGDUGVUHODWHG SUREDELOLW\RIRFFXUUHQFHRIQDWXUDOGLVDVWHUVRUHQYLURQPHQWDO
WR VHFXULW\ HOHFWULFDO V\VWHPV QHWZRUNLQJ HQYLURQPHQWDO WKUHDWVVKRXOGEHDYRLGHGZKHQVHOHFWLQJDVLWHIRUDGDWDFHQWHU
FRQWURO V\VWHPV ILUH V\VWHPV DXWRPDWLRQ DQG HTXLSPHQW DV WKH\ PD\ DIIHFW WKH VWUXFWXUH RI WKH EXLOGLQJ LWVHOI SRZHU
DPRQJ RWKHUV $GGLWLRQDOO\ WKH ULVN DQDO\VLV SURFHVV PXVW WHOHFRPPXQLFDWLRQDQGZDWHUVXSSO\URDGVRIDFFHVVWRWKHVLWH
LQFOXGHDQDVVHVVPHQWRIWKUHDWVDQGYXOQHUDELOLWLHVH[WHUQDOWR DQGSXEOLFWUDQVSRUWDWLRQDQGRWKHU
WKHGDWDFHQWHULWVHOI 7UDQVSRUWDWLRQDQGDGMDFHQWSURSHUWLHV$UHDVQHDULQGXVWULDO
7KHSURFHVVGHVFULEHGLQWKLVSDSHUFRQVLGHUVVWDQGDUGVDV ULVNV SURQH WR VHFXULW\ LVVXHV WHUURULVW DWWDFNV ZLWK RU QHDU
ZHOODVEHVWSUDFWLFHVVXJJHVWHGE\WKHDXWKRUVWRFUHDWHDVWHS PLOLWDU\ IDFLOLWLHV DLUSRUWV VHDSRUWV KHDY\ WUDIILF EXV\
E\ VWHS HDV\WRIROORZ PHWKRGRORJ\ WR KHOS HYDOXDWH WKH KLJKZD\VYDFDQWORWVRUDOWHUQDWHGDWDFHQWHUVKRXOGEHDYRLGHG
ORFDWLRQRIDGDWDFHQWHU,QWKHFDVHWKDWDEDFNXSRUUHGXQGDQW LQRUGHUWREHWWHUSURWHFWWKHUHOLDELOLW\DQGVHFXULW\RIWKHIDFLOLW\
GDWDFHQWHUVLWHVHOHFWLRQSURFHVVLVLQSODFHLWLVLPSRUWDQWWR 2Q WKH RWKHU KDQG WR IDFLOLWDWH KXPDQ UHVRXUFHV DFFHVV DQG
PLQLPL]HWKHOLNHOLKRRGWKDWERWKWKHPDLQGDWDFHQWHUDQGWKH HPHUJHQF\VHUYLFHVLWLVUHFRPPHQGHGIRUWKHGDWDFHQWHUWREH
EDFNXSGDWDFHQWHUDUHDIIHFWHGE\WKHRFFXUUHQFHRIWKHVDPH QHDUPHWURSROLWDQDUHDVILUHVWDWLRQVSROLFHVWDWLRQVKRVSLWDOV
HYHQW 7KH VLWH VHOHFWLRQ SURFHVV RI DQ\ GDWD FHQWHU FRXOG EH DQGVHFRQGDU\DFFHVVURDGV
KLJKO\LQIOXHQFHGE\WKHWLPHDQGFRVWRIH[HFXWLRQ 2WKHU$OWKRXJKWKHOLVWRIYDULDEOHVWKDWFRXOGSRWHQWLDOO\
0HWKRGRORJ\ DIIHFW WKH GDWD FHQWHU VHFXULW\ LV H[WHQVLYH WKH PHWKRGRORJ\
KHUHE\ GHVFULEHG FRQVLGHUV DGGLWLRQDO ULVN IDFWRUV VXFK DV
7KH SURSRVHG PHWKRGRORJ\ IRU WKH GDWD FHQWHU VLWH ULVN UHJXODWLRQV EXVLQHVV LQFHQWLYHV HJ WD[HV HQHUJ\ UDWHV 
PHWULF RI D VSHFLILF ORFDWLRQ UHVXOWV IURP D FRPELQDWLRQ RI LQVXUDQFH HQYLURQPHQWDO LPSDFW FRVW DQG IHDVLELOLW\ RI UHDO
PHWKRGRORJLHVDQGLVVLPSOLILHGLQIRXU  VWHSV HVWDWH SURSHUWLHV FRQVWUXFWLRQ RSHUDWLRQ HGXFDWLRQ OHYHO RI
 ,GHQWLI\WKUHDWVDQGYXOQHUDELOLWLHV SRSXODWLRQDQGVNLOOHGODERU

7KHILUVWVWHSFRQVLVWVRILGHQWLI\LQJDQGOLVWLQJDOOSRWHQWLDO 7DEOHSUHVHQWVWKHWKUHDWFDWHJRULHVVXEFDWHJRULHVDQGLWV
WKUHDWVDQGYXOQHUDELOLWLHVDQGDVVLJQLQJDZHLJKWDFFRUGLQJWR UHVSHFWLYHZHLJKWV7KHWKUHDWVDQGYXOQHUDELOLWLHVDUHOLVWHGDQG


11
UHSUHVHQWHG E\ WKH VXELQGH[ LM  ZKHUH µL¶ UHSUHVHQWV WKH OLVWHGDQGDVVLJQGLIIHUHQWZHLJKWVDVWKH\VHHILW,WLVWKHUHIRUH
FDWHJRU\ DQG µM¶ UHSUHVHQWV WKH VXEFDWHJRU\ 7KH VXJJHVWHG LPSRUWDQWWRGRFXPHQWWKHMXVWLILFDWLRQIRUHDFKZHLJKWDVVLJQHG
ZHLJKWRIWKHFDWHJRU\LVUHSUHVHQWHGE\µܹ௜ ¶DQGWKHVXJJHVWHG 7KH JLYHQ ZHLJKWV VKRXOG UHPDLQ XQFKDQJHG HYHU\ WLPH WKLV
ZHLJKWRIWKHVXEFDWHJRU\LVUHSUHVHQWHGE\µܹͳሺ௜ǡ௝ሻ ¶7KHVXP PHWKRGRORJ\ LV XVHG WR PDNH UHDVRQDEOH FRPSDULVRQV 7KH
RIWKHZHLJKWVRIDOOWKHFDWHJRULHVUHVXOWVLQDVGRHVWKH LPSRUWDQFHRIWKHGLIIHUHQWWKUHDWVLVTXDQWLILHGE\WKHLUZHLJKW
VXPRIWKHZHLJKWVIRUHDFKVXEFDWHJRU\7KHVWDWHPHQWVXQGHU PDNLQJWKHRYHUDOOULVNUDWLQJPRUHPHDQLQJIXO
ZKLFKHDFKVXEFDWHJRU\LVHYDOXDWHGPXVWEHFRQVLVWHQWLQRUGHU  4XDQWLI\WKHSUREDELOLW\RIRFFXUUHQFHRIWKHHYHQW
WRDOORZDQDO\VLVDQGFRPSDULVRQV
7$%/(7KUHDWVFDWHJRULHVVXEFDWHJRULHVDQGZHLJKWV
)RUWKHPHWKRGRORJ\WREHUHOLDEOHLWLVUHTXLUHGWRGHILQH
WKH SUREDELOLW\ RI RFFXUUHQFH RI WKH HYHQW DQG LWV LPSDFW DQG
:HLJKW HVWDEOLVK FOHDU GHILQLWLRQV RI WKH OHYHOV IRU ERWK YDULDEOHV >@
7KUHDWVDQGYXOQHUDELOLWLHV :HLJKW ܹ௜ 
ܹͳሺ௜ǡ௝ሻ  7DEOHVKRZVWKHGLIIHUHQWOHYHOVRISUREDELOLW\RIRFFXUUHQFH
8WLOLWLHV   UDQJLQJIURPµORZ¶µPHGLXPORZ¶µPHGLXP¶µPHGLXPKLJK¶
7HOHFRPPXQLFDWLRQV   DQGµKLJK¶ZLWKDVVLJQHGYDOXHVRIWRUHVSHFWLYHO\)RUHDFK
(OHFWULFLW\   RI WKH LGHQWLILHG WKUHDWV WKH XVHU RI WKLV PHWKRGRORJ\ PXVW
2WKHUHQHUJ\VRXUFHV  
:DWHU   DVVLJQDSUREDELOLW\DFFRUGLQJWRKRZOLNHO\LWLVWKDWWKHHYHQW
6HZDJH   ZLOO RFFXU 3UREDELOLWLHV PXVW EH DVVLJQHG EDVHG RQ SUHYLRXV
1DWXUDOKD]DUGVDQGHQYLURQPHQW   UHVHDUFKKRZHYHULIQRLQIRUPDWLRQLVDYDLODEOHZHVKRXOGUHIHU
(DUWKTXDNHV   WR WKH SULQFLSOH VWDWLQJ WKDW ZKDW KDSSHQHG LQ WKH SDVW DQG
:LQGV   SUHVHQWVHUYHVDVDWRROIRUSUHGLFWLQJWKHIXWXUH>@
9ROFDQRHV  
6QRZ   7$%/(/HYHOVRIWKHSUREDELOLW\RIRFFXUUHQFHRIDWKUHDW
:LOGILUHV  
)ORRGLQJ   9DOXH 'HVFULSWLRQ 3UREDELOLW\RIRFFXUUHQFH 32 
$OWLWXGH  
$EVHQFHRIIDFWRUVWKDWPD\FDXVHWKHHYHQWDOPRVW
7RSRJUDSK\  
 /RZ LPSRVVLEOHWKDWWKHHYHQWZLOOKDSSHQ1HYHU
6XEVRLOVWDELOLW\  
KDSSHQHGEHIRUH
8QGHUJURXQGZDWHU  
/LJKWQLQJ   +LJKO\XQOLNHO\WKDWWKHHYHQWRFFXUVEXWVWLOOZLWKD
0HGLXP
$LUTXDOLW\    VPDOOSUREDELOLW\RIRFFXUUHQFH+DVKDSSHQHGLQ
/RZ
1RLVH   WKHSDVW\HDUVEHIRUHRUORQJHU
7UDQVSRUWDWLRQDQGDGMDFHQWSURSHUWLHV   &RQGLWLRQVIRUWKHHYHQWDUHSUHVHQW
 0HGLXP
(YHQWKDVRFFXUUHGHYHU\\HDUV
3XEOLFURDGV  
8QGHUJURXQGWUDQVSRUWDWLRQ   0HGLXP &RQGLWLRQVIRUWKHHYHQWDUHSUHVHQW

7UDIILF   +LJK (YHQWKDVRFFXUUHGHYHU\PRQWKVWR\HDUV
3UR[LPLW\WRULVN\SURSHUWLHV   +LJKSUREDELOLW\RIRFFXUUHQFH
 +LJK
0HWURSROLWDQDUHDV   (YHQWKDSSHQVHYHU\PRQWKVRUOHVV
$LUSRUWV6HDSRUWV  
9DFDQWORWV  
 (VWLPDWHSRWHQWLDOFRQVHTXHQFHVRULPSDFWRIWKHHYHQW
(PHUJHQF\VHUYLFHV   7DEOH  VKRZV WKH GLIIHUHQW OHYHOV RI LPSDFW LI WKH HYHQW
6HFXULW\WKUHDWV  
7HUURULVWDWWDFNV   RFFXUV UDQJLQJ IURP µORZ¶ µPHGLXPORZ¶ µPHGLXP¶
2WKHU   µPHGLXPKLJK¶ DQG µKLJK¶ ZLWK YDOXHV RI  WR  UHVSHFWLYHO\
5HJXODWLRQV   )RUHDFKRIWKHHYHQWVWKHXVHURIWKLVPHWKRGRORJ\PXVWDVVLJQ
%XVLQHVVLQFHQWLYHV   D OHYHO RI SRWHQWLDO LPSDFW DFFRUGLQJ WR WKH H[SHFWHG GDPDJH
(QYLURQPHQWDOLPSDFW   HDFK HYHQW PD\ KDYH RQ WKH GDWD FHQWHU 0LWLJDWLRQ VWUDWHJLHV
5HDOHVWDWH   WKDWPD\UHGXFHWKHLPSDFWRIWKHHYHQWVKRXOGEHIDFWRUHGLQ
&RQVWUXFWLRQ  
2SHUDWLRQDQGPDLQWHQDQFH   ZKHQHVWLPDWLQJOHYHORILPSDFW
6NLOOHGODERUDQGSRSXODWLRQ   7$%/(/HYHOVRILPSDFWRIWKHHYHQW
,QVXUDQFH  
9DOXH 'HVFULSWLRQ ,PSDFW , 
7KHDOORFDWLRQRIWKHZHLJKWVDPRQJHDFKFDWHJRU\LVEDVHG
&RQVHTXHQFHVDUHQRWVLJQLILFDQW1RPDWHULDORU
RQSUHYLRXVNQRZOHGJHRIWKHDXWKRUV>@DERXWWKHVLJQLILFDQFH  /RZ
ILQDQFLDOORVVHV
RIWKHLPSDFWRIWKHVHIDFWRUVRQWKHGDWDFHQWHURSHUDWLRQ$GDWD
 0HGLXP/RZ &RQVHTXHQFHVDIIHFWVOLJKWO\0LQRUORVVHV
FHQWHUVLWHWKDWIDLOVWRSURYLGHJRRGTXDOLW\VHUYLFHVUHSUHVHQWV
PDMRU ULVN SRVVLEO\ PDNLQJ WKLV VLWH LQDSSURSULDWH )RU WKLV  0HGLXP &RQVHTXHQFHVDIIHFWPRGHUDWHO\0RGHUDWHORVVHV
UHDVRQWKHFDWHJRU\µXWLOLWLHV¶LVDVVLJQHGZLWKWKHKLJKHVWZHLJKW &RQVHTXHQFHVDIIHFWSDUWLDOO\EXWGHHSO\
 0HGLXP+LJK
7KHRWKHUWKUHHFDWHJRULHVZHUHDVVLJQHGHTXDOZHLJKWV,QWKH 0RGHUDWHORVVHV
FDWHJRU\ µXWLOLWLHV¶ WHOHFRPPXQLFDWLRQV DQG HQHUJ\ VRXUFHV  +LJK
&RQVHTXHQFHVDIIHFWVXEVWDQWLDOO\7RWDORUSDUWLDO
KDYHWKHKLJKHVWZHLJKWEDVHGRQWKHLULPSOLFDWLRQIRUWKHGDWD ORVVHV
FHQWHU RSHUDWLRQ ,Q WKH QDWXUDO KD]DUGV DQG HQYLURQPHQWDO  &DOFXODWHWKHWRWDOULVNOHYHO
WKUHDWV FDWHJRU\ JLYHQ WKHLU XQSUHGLFWDELOLW\ DQG SRWHQWLDO
LPSDFWVRPHWKUHDWVDUHDVVLJQHGDKLJKHUZHLJKW7KDWEHLQJ 7KHULVNOHYHOLVHVWLPDWHGE\PXOWLSO\LQJWKHSUREDELOLW\RI
VDLGLQRUGHUWRDOORZIOH[LELOLW\WKHXVHURIWKHPHWKRGRORJ\ RFFXUUHQFHE\WKHFRQVHTXHQFHVRULPSDFWRIHDFKWKUHDW7KDW
PD\ LGHQWLI\ DGGLWLRQDO WKUHDW FDWHJRULHV GLVUHJDUG WKH RQHV SURGXFW LV WKHQ PXOWLSOLHG E\ WKH UHVSHFWLYH ZHLJKW %\


12
PXOWLSO\LQJWKHVHYDULDEOHVIRUDOOVXEFDWHJRULHVZHJHWHDFKRI 7KHGDWDFHQWHUVLWHULVNVFRUHYDULHVIURPWRZKHUH
WKHLUZHLJKWHGYDOXHV7KHQZHVXPXSWKHZHLJKWHGYDOXHVRI LVWKHORZHVWOHYHODQGLVWKHKLJKHVWOHYHORIULVNDFKLHYDEOH
WKHVXEFDWHJRULHVIRUHDFKFDWHJRU\)LQDOO\FDOFXODWHWKHWRWDO IRUDVSHFLILFVLWH7KHXVHUPXVWGHWHUPLQHDQDFFHSWDEOHOHYHO
ZHLJKWHG ULVN WR FRPH XS ZLWK RQH ILQDO UHVXOW 7KURXJK WKLV RI ULVN VR WKDW LI WKH ILQDO VFRUH OLHV DERYH WKDW OHYHO WKDW
DQDO\VLV WKH GLIIHUHQW WKUHDWV DQG YXOQHUDELOLWLHV FDQ EH SDUWLFXODUORFDWLRQLVQRWUHFRPPHQGHG
SULRULWL]HG GHSHQGLQJ RQ WKH YDOXHV RI WKH SUREDELOLW\ RI
RFFXUUHQFHLPSDFWDQGWKHDVVLJQHGZHLJKW8QGHUVWDQGLQJULVN ,QDVFHQDULRZLWKDEVHQFHRIIDFWRUVWKDWFDQFDXVHWKUHDWV
FRQFHQWUDWLRQ E\ FDWHJRU\ FDQ DGG YDOXH ZKHQ DQDO\]LQJ DQG ZKHUH WKHLU DVVRFLDWHG FRQVHTXHQFHV DUH QRW UHOHYDQW WKH
PLWLJDWLRQVWUDWHJLHV SUREDELOLW\RIRFFXUUHQFHRIDOOHYHQWVLV³ORZ´DQGLWVDVVRFLDWHG
LPSDFW LV DOVR ³ORZ´ ,QWXLWLYHO\ WKH DVVRFLDWHG VLWH ULVN VFRUH
7KHUH DUH GLIIHUHQW W\SHV RI WRROV WKDW FDQ FRQWULEXWH WR D VKRXOG EH DW LWV PLQLPXP ZKLFK LV ³´ &RQYHUVHO\ LQ D
EHWWHUXQGHUVWDQGLQJRIWKHVLWHULVNVVXFKDVVHQVLWLYLW\DQDO\VLV VFHQDULRZLWKD³KLJK´SUREDELOLW\RIRFFXUUHQFHRIDOOHYHQWV
KHOS WR YLVXDOL]H WKH WKUHDWV ZLWK PRUH LPSDFW  GHFLVLRQ WUHH DQGZKHUHWKHLULPSDFWLV³KLJK´WKHDVVRFLDWHGVLWHULVNVFRUH
DQDO\VLV LQFOXGLQJ WKH FRVW IRU HDFK GHFLVLRQ  PRGHOLQJ DQG VKRXOGEHDWLWVPD[LPXPDQGWKHZRUVWSRVVLEOHZKLFKLV³´
VLPXODWLRQ HJ 0RQWH &DUOR WHFKQLTXH  ([SHUW MXGJPHQW LV ,QWKHUHDOZRUOGZHZLOOQRWKDYHWKHVHH[WUHPHVZHZLOOEH
DOVR UHTXLUHG WR LGHQWLI\ HYDOXDWH DQG LQWHUSUHW WKH GLIIHUHQW ORRNLQJLQWRGLIIHUHQWPL[HVRISUREDELOLW\RIRFFXUUHQFHRIWKH
WKUHDWV SUREDELOLWLHV RI RFFXUUHQFH DQG LPSDFWV RQ WKH GDWD WKUHDWV DQG GLIIHUHQW OHYHOV RI LPSDFW GHSHQGLQJ WKH VSHFLILF
FHQWHU>@ WKUHDW ,Q $SSHQGL[ $ WDEOH $ VKRZV DQ H[DPSOH RI D
K\SRWKHWLFDO ORFDWLRQ ZLWK D VLWH ULVN VFRUH RI  ZKHUH
7KH SURSRVHG ULVN PHWULF FDQ EH VXPPDUL]HG LQWR D WLPH SUREDELOLWLHV RI RFFXUUHQFH RI DOO HYHQWV DQG WKHLU SRWHQWLDO
GHSHQGHQWIXQFWLRQ)RUDVSHFLILFWLPHLQVWDQWUHJDUGOHVVRIWKH LPSDFWRQWKHGDWDFHQWHUKDYHEHHQLGHQWLILHG,WPXVWEHQRWHG
FRUUHODWLRQEHWZHHQGLIIHUHQWSDUDPHWHUVWKHGDWDFHQWHUVLWHULVN WKDWGLIIHUHQWGDWDFHQWHUVPD\KDYHWKHVDPHVLWHULVNVFRUHEXW
VFRUHFDQEHGHILQHGDV FDQEHH[SRVHGWRGLIIHUHQWWKUHDWVSUREDELOLWLHVRIRFFXUUHQFH
'DWD&HQWHU6LWH5LVN6FRUH  DQGOHYHOVRILPSDFW
௧௖ ௞೔ 7KLVPHWKRGRORJ\SURYLGHVDYHU\JRRGVHQVHRIZKDWWKH
෍ ෍ ܴ‫ܮ‬ሺ௜ǡ௝ሻ ‫ʹܹ כ‬ሺ௜ǡ௝ሻ  GLIIHUHQWULVNVDQGSRWHQWLDOWKUHDWVDQGYXOQHUDELOLWLHVDUHIRUD
GDWD FHQWHU VLWH +RZHYHU WKH ILQDO GDWD FHQWHU VLWH ULVN VFRUH
௜ୀଵ ௝ୀଵ
DORQHGRHVQRWPHDQPXFKLIWDNHQDVDGHFLVLRQPDNLQJWULJJHU
,Q RUGHU WR DGHTXDWHO\ LQWHUSUHW UHVXOWV RI WKLV SURFHVV IRU
:KHUH L7KUHDWFDWHJRULHV L «W 
GHFLVLRQPDNLQJSXUSRVHVWKHILQDOVFRUHPXVWEHFRPSDUHGWR
  WF7RWDOQXPEHURIWKUHDWFDWHJRULHV W   VFRUHV REWDLQHG IRU RWKHU ORFDWLRQV RU VFRUHV IRU WKH VDPH
ORFDWLRQ DW D GLIIHUHQW SRLQW LQ WLPH µEHIRUH DQG DIWHU¶  $
LHL 6HUYLFHVL 1DWXUDOGLVDVWHUVL  ORFDWLRQDWDFHUWDLQWLPHPD\EHLGHDOJLYHQVRPHSUHPLVHVEXW
7UDQVSRUWDWLRQ DQG DGMDFHQW SURSHUWLHV L  ZKHQFRQGLWLRQVFKDQJHWKDWVDPHORFDWLRQPD\QRWEHRSWLPDO
2WKHU  ,IWZRRUPRUHORFDWLRQVDUHEHLQJFRQVLGHUHGLWLVUHFRPPHQGHG
  M6SHFLILFWKUHDW M «NL  WRFKRRVHWKHRQHWKDWUHVXOWVLQWKHVPDOOHVWYDOXH ORZHVWULVN 
/LNHZLVH LQ RUGHU WR GHWHUPLQH ZKHWKHU WKH ULVN DW D VSHFLILF
  ݇௜ 1XPEHURIWKUHDWVIRUHDFKFDWHJRU\ ORFDWLRQKDVFKDQJHGRYHUWLPHWKLVPHWKRGRORJ\FDQEHXVHG
   LHN N N N   WRDQDO\]HWKUHDWVDQGYXOQHUDELOLWLHVDWHDFKSRLQWLQWLPHDQG
WKHQFRPSDUHUHVXOWV$JDLQWKHORZHUWKHVFRUHWKHORZHUWKH
  ܴ‫ܮ‬ሺ௜ǡ௝ሻ 5LVNOHYHOIRUWKHVSHFLILFWKUHDW ULVN
  ܹʹሺ௜ǡ௝ሻ $GMXVWHGZHLJKWIRUWKHVSHFLILFWKUHDW 7KHGDWDFHQWHUVLWHULVNPHWULFFRQVWLWXWHVDQHIILFLHQWDQG
HIIHFWLYH ZD\ WR VHOHFW WKH RSWLPDO ORFDWLRQ IRU D GDWD FHQWHU
7KHULVNOHYHO 5/ LVGHILQHGDV EDVHG RQ VLWH ULVN DQDO\VLV ,W DOVR KDV WKH SRVVLELOLW\ WR
LQFRUSRUDWHQHZULVNPHDVXUHPHQWVLQWKHIXWXUHSUHYHQWLQJLW
ܴ‫ܮ‬ሺ௜ǡ௝ሻ ൌ ܱܲሺ௜ǡ௝ሻ ‫ܫ  כ‬ሺ௜ǡ௝ሻ  IURPEHFRPLQJRXWGDWHG,QDGGLWLRQWKHUHDUHPDQ\FKDOOHQJHV
EHIRUHXVLQJWKHVLWHULVNPHWULF8VHUVPXVWXQGHUVWDQGWKDWHDFK
:KHUH GDWDFHQWHURUJDQL]DWLRQLVGLIIHUHQWDQGKDVWKHLURZQQHHGVDQG
FRQVWUDLQWV &DWHJRULHV VXEFDWHJRULHV DQG HYDOXDWLRQ FULWHULD
ܱܲሺ௜ǡ௝ሻ 3UREDELOLW\RIRFFXUUHQFHRIWKHVSHFLILFWKUHDW PXVWEHWDLORUHGDFFRUGLQJO\$VPXFKDVSRVVLEOHHDFKYDOXH
‫ܫ‬ሺ௜ǡ௝ሻ ,PSDFWRIWKHVSHFLILFWKUHDW DQGZHLJKWDVVLJQHGWRHDFKWKUHDWPXVWEHEDFNHGZLWKHQRXJK
VXSSRUWVXFKDVUHVHDUFKRUIDFWVWKDWOHDGWRVXFKFRQFOXVLRQ
7KHDGMXVWHGZHLJKW : IRUWKHWKUHDWLVGHILQHGDV 7KHVXFFHVVRIWKLVPHWKRGRORJ\LVWKHTXDOLW\RILQIRUPDWLRQ
XVHGEHIRUHDVVLJQLQJHDFKYDOXH
ܹʹሺ௜ǡ௝ሻ ൌ ܹ௜ ‫ͳܹ  כ‬ሺ௜ǡ௝ሻ 
,9&21&/86,216
:KHUH ܹ௜ :HLJKWRIWKHVSHFLILFFDWHJRU\ *LYHQ WKH PLVVLRQ FULWLFDO QDWXUH RI GDWD FHQWHUV PHWULFV
PXVWSURYLGHDKROLVWLFXQGHUVWDQGLQJRIWKHGDWDFHQWHUEHKDYLRU
  ܹͳሺ௜ǡ௝ሻ :HLJKWRIWKHVSHFLILFVXEFDWHJRU\ 7KHSURSRVHGQHZGDWDFHQWHUVLWHULVNPHWULFFRQWULEXWHVWRD
FRPSUHKHQVLYH YLHZ RI WKH GDWD FHQWHU ,W LV D ZD\ WR


13
FRPPXQLFDWHWRWKHPDQDJHPHQWDQGVWDNHKROGHUVDQGEHWWHU >@ ³'DWD&HQWHU'HVLJQDQG,PSOHPHQWDWLRQ%HVW3UDFWLFHV´$16,%,&6,
XQGHUVWDQG WKH ULVNV WKH GDWD FHQWHU ORFDWLRQ LV VXEMHFW WR DQG 
KHOS WR HODERUDWH PLWLJDWLRQ VWUDWHJLHV WR UHGXFH LPSDFW RI >@ ³,QIRUPDWLRQWHFKQRORJ\'DWDFHQWUHIDFLOLWLHVDQGLQIUDVWUXFWXUHV3DUW
%XLOGLQJFRQVWUXFWLRQ´%6(1
SRWHQWLDO WKUHDWV 7KH PHWKRGRORJ\ LV GLIIHUHQW IURP H[LVWLQJ
PHWULFVLQWKDWLWGRHVQRWOLPLWLWVHOIWRPHDVXULQJDYDOXHZKRVH >@ 0 6H\PRXU DQG 6 ,NHPRWR ³'HVLJQ DQG PDQDJHPHQW RI GDWD FHQWHU
HIIHFWLYHQHVV ULVNV DQG FRVWV´ Annual IEEE Semiconductor Thermal
RSWLPL]DWLRQFDQEHDXWRPDWHG,QVXPPDU\WKHIUDPHZRUNIRU Measurement and Management Symposium 6DQ -RVH &$ SS ±
GDWDFHQWHUVLWHULVNPHWULFVKRXOGEHFDSDEOHRIVWDQGDUGL]LQJD 
SURFHVVVRWKDWLWEHFRPHVDEHVWSUDFWLFHWRKHOSHYDOXDWHGDWD >@ 0:LERRQUDW³5LVNDQDWRP\RIGDWDFHQWHUSRZHUGLVWULEXWLRQV\VWHPV´
FHQWHUVDQGFRPSDUHWKHPWRHDFKRWKHU7KHPHWULFFDQSURYLGH 2008 IEEE International Conference on Sustainable Energy
D UDQNLQJ RI ZKHUH WKH GDWD FHQWHU RSHUDWHV DQG DOORZV Technologies, ICSET 20086LQJDSRUH6LQJDSRUHSS±
FRPSDULVRQ EHWZHHQ VFHQDULRV 7KH RXWFRPH LV D VFRUHFDUG >@ 0 :LERRQUDW ³/LIH F\FOH FRVW DQDO\VLV RI GDWD FHQWHU SURMHFW´ 2014
FRQVLGHULQJVLWHULVNWKDWDVVLVWVLQILQGLQJDUHDVRILPSURYHPHQW Ninth International Conference on Ecological Vehicles and Renewable
ZKLFKVKRXOGEHVWUDWHJLFDOO\DGGUHVVHGDQGZLOODOVRFRQVWLWXWH Energies (EVER)0RQWH&DUOR0RQDFR
DVWURQJEDVLVIRUGHFLVLRQPDNLQJ >@ /7RPDVDQG-7RUGVVRQ³$QDXWRQRPLFDSSURDFKWRULVNDZDUHGDWD
FHQWHURYHUERRNLQJ´LQIEEE Transactions on Cloud ComputingYRO
9,)8785(5(6($5&+ QRSS±
>@ ; -LQ ) =KDQJ 6 +X DQG = /LX ³5LVN PDQDJHPHQW IRU YLUWXDO
$SURSRVDORQGDWDFHQWHUVLWHULVNPHWULFLVSUHVHQWHGLQWKLV PDFKLQHV FRQVROLGDWLRQ LQ GDWD FHQWHUV´ 2013 IEEE Global
SDSHUKRZHYHUIXUWKHUUHVHDUFKQHHGVWREHFRQGXFWHGWRILQG Communications Conference (GLOBECOM) $WODQWD *$ SS ±
YDOLGDWHDQGFDOLEUDWHPHWULFVSDUDPHWHUVDQGPDNHDGHFLVLRQ 
RQ ZKLFK RQHV DUH PRVW UHDVRQDEOH WR XVH IRU WKH LQWHQGHG >@ /<X 7-LDQJ<&DR6<DQJDQG=:DQJ³5LVNPDQDJHPHQWLQ
SXUSRVH$GHHSHUXQGHUVWDQGLQJRIWKHVLJQLILFDQFHRIWKUHDWV LQWHUQHWGDWDFHQWHURSHUDWLRQVXQGHUVPDUWJULGHQYLURQPHQW´2012 IEEE
DQGYXOQHUDELOLWLHVLVQHHGHGLQRUGHUWRKDYHDVWURQJHUEDVLVIRU Third International Conference on Smart Grid Communications
(SmartGridComm)7DLQDQ7DLZDQSS±
ZHLJKWDVVLJQPHQWV7KHPHWULFFDQEHDGDSWHGWRQHZVFHQDULRV
>@ /<X7-LDQJ60HPEHU<&DRDQG60HPEHU³5LVNFRQVWUDLQHG
EURXJKW DERXW E\ GDWD FHQWHU LQQRYDWLRQ 8QFRQYHQWLRQDO RSHUDWLRQIRULQWHUQHWGDWDFHQWHUVLQGHUHJXODWHGHOHFWULFLW\PDUNHWV´LQ
ORFDWLRQVVXFKDVDGDWDFHQWHUEXLOWXQGHUZDWHU>@FRPHZLWK IEEE Transactions on Parallel and Distributed SystemsYROQR
FKDOOHQJHVDQGULVNVWKDWPXVWEHFRQVLGHUHG7KHPHWKRGRORJ\ SS±
DOORZVWKHXVHUWRGHILQHQHZFDWHJRULHVDQGWKUHDWVDSSOLFDEOH >@ 50LOOHU³&ODVV1HZGDWDFHQWHUPHWULFWDUJHWVSUREDELOLW\DQGULVN´
WR QHZ GDWD FHQWHU HQYLURQPHQWV WR PHDVXUH WKH ORFDWLRQ ULVN  >2QOLQH@ $YDLODEOH KWWSGDWDFHQWHUIURQWLHUFRPFODVVQHZGDWD
LQYROYHG FHQWHUPHWULFWDUJHWVSUREDELOLW\RIIDLOXUH
>@ ³,((( 5HFRPPHQGHG 3UDFWLFH IRU 'HWHUPLQLQJ WKH 5HOLDELOLW\ RI [
'LIIHUHQWGDWDFHQWHUVWUDWHJLHVFDQEHGHSOR\HGWRLPSURYH &RQWLQXRXV 3RZHU 6\VWHPV LQ ,QGXVWULDO DQG &RPPHUFLDO )DFLOLWLHV´
PHWULFVIRUZKLFKDWKHRUHWLFDOVWXG\RISRVVLEOHVWUDWHJLHVPXVW ,(((6WG
EHFRQGXFWHG0DQ\RIWKHPFRXOGUHTXLUHVLPXODWLRQWRROVWR >@ &XVKPDQ :DNHILHOG³'DWD&HQWUH5LVN,QGH[´
YDOLGDWHWKHPEHIRUHLPSOHPHQWDWLRQ%\WUDFNLQJWKHSURSRVHG >@ (UQHVW2UODQGR/DZUHQFH%HUNHOH\1DWLRQDO/DERUDWRU\³8QLWHG6WDWHV
PHWULFWKHPDQDJHPHQWZLOOKDYHDQRYHUDOOXQGHUVWDQGLQJRI 'DWD&HQWHU(QHUJ\8VDJH5HSRUW/%1/´
WKHGDWDFHQWHUVLWHULVN:KHQLVVXHVLGHQWLILHGE\WKLVPHWULF >@ 0 /HY\ DQG ' 5DYLY ³$ 1RYHO )UDPHZRUN IRU 'DWD &HQWHU 0HWULFV
DUHDGGUHVVHGDFWLRQVFDQEHXQGHUWDNHQEDVHGRQWKHYLVLRQIRU XVLQJD0XOWLGLPHQVLRQDO$SSURDFK´15th LACCEI International Multi-
WKHVSHFLILFGDWDFHQWHUZKLFKZLOODJDLQLPSDFWWKHPHWULF7KDW Conference for Engineering, Education, and Technology: Global
ZD\ ZKHQ YDULDEOHV DUH UHHYDOXDWHG WKH UHVXOW RI WKH PHWULF Partnerships for Development and Engineering Education%RFD5DWRQ
)/
ZRXOGKDYHLPSURYHG:LWKDOOGDWDLQKDQGDQGVWXG\LQJWKH
>@ 37XUQHU-+6HDGHU95HQDXGDQG.*%ULOO³7LHU&ODVVLILFDWLRQV
FRUUHODWLRQ EHWZHHQ WKH GLIIHUHQW PHWULF VFRUHV DQG WKHLU 'HILQH6LWH,QIUDVWUXFWXUH3HUIRUPDQFH´8SWLPH,QVWLWXWH
DVVRFLDWHGULVNVVLPXODWLRQVRIGLIIHUHQWVFHQDULRVFDQEHUXQWR
>@ 0 /HY\ DQG - 2 +DOOVWURP ³$ 1HZ $SSURDFK WR 'DWD &HQWHU
YLVXDOL]HKRZDFKDQJHLQSDUDPHWHUVLPSDFWVULVNDQGOLNHZLVH ,QIUDVWUXFWXUH 0RQLWRULQJ DQG 0DQDJHPHQW '&,00 ´ IEEE CCWC
KRZDFKDQJHLQULVNIDFWRUVDIIHFWVPHWULFUHVXOWV 2017. The 7th IEEE Annual Computing and Communication Workshop
and Conference/DV9HJDV19
5()(5(1&(6
>@ 0 /HY\ DQG - 2 +DOOVWURP ³$ 5HOLDEOH 1RQ,QYDVLYH $SSURDFK WR
>@ '/XSWRQRiskQG(G/RQGRQ8.5RXWOHGJH 'DWD &HQWHU 0RQLWRULQJ DQG 0DQDJHPHQW´ Advances in Science,
>@ 3URMHFW0DQDJHPHQW,QVWLWXWH³&KDSWHU3URMHFWULVNPDQDJHPHQW´LQ Technology and Engineering Systems Journal YRO  QR  SS ±
A Guide to the Project Management Body of Knowledge (PMBOK 
Guide). ANSI/PMI 99-001WK(G1HZWRQ6TXDUH3$SS± >@ -.RRPH\DQG-6WDQOH\³7KH6FLHQFHRI0HDVXUHPHQW,PSURYLQJ'DWD
 &HQWHU 3HUIRUPDQFH ZLWK &RQWLQXRXV 0RQLWRULQJ DQG 0HDVXUHPHQW RI
>@ ,((( &RPSXWHU 6RFLHW\ ³,((( *XLGH  $GRSWLRQ RI WKH 3URMHFW 6LWH,QIUDVWUXFWXUH´
0DQDJHPHQW ,QVWLWXWH 30,  6WDQGDUG $ *XLGH WR WKH 3URMHFW >@ 0 /HY\ ³$QiOLVLV GH 5LHVJRV \ 6HOHFFLyQ GH /RFDOLGDG 'RV 3LODUHV
0DQDJHPHQW%RG\RI.QRZOHGJH 30%2.*XLGH WK(G´ ,PSUHVFLQGLEOHV>5LVNDQDO\VLVDQGVLWHVHOHFWLRQWZRHVVHQWLDOSLOODUV@´
>@ 86'HSDUWPHQWRI(QHUJ\2IILFHRI(QHUJ\(IILFLHQF\ 5HQHZDEOH Datacenter Dynamics FocusSS±
(QHUJ\ ³ )DFWV WR .QRZ $ERXW 'DWD &HQWHUV´  >2QOLQH@ >@ ' - 9DUQHV DQG ,QWHUQDWLRQDO $VVRFLDWLRQ RI (QJLQHHULQJ *HRORJ\
$YDLODEOH KWWSHQHUJ\JRYHHUHDUWLFOHVIDFWVNQRZDERXWGDWD &RPPLVVLRQ RQ /DQGVOLGHV DQG 2WKHU 0DVV 0RYHPHQWV RQ 6ORSHV
FHQWHUV Landslide hazard zonation: a review of principles and practice 3DULV
>@ 3RQHPRQ ,QVWLWXWH //& ³&RVW RI 'DWD &HQWHU 2XWDJHV 'DWD &HQWHU )UDQFH81(6&2
3HUIRUPDQFH%HQFKPDUN6HULHV´ >@ % &XWOHU 6 )RZHUV - .UDPHU DQG ( 3HWHUVRQ ³'XQNLQJ WKH 'DWD
>@ ³7HOHFRPPXQLFDWLRQV ,QIUDVWUXFWXUH 6WDQGDUG IRU 'DWD &HQWHUV´ &HQWHU´IEEE SpectrumYROQR1HZ<RUN1<SS±0DU
$16,7,$$ 


14
$33(1',;$
7DEOH$VKRZVDQH[DPSOHRIDGDWDFHQWHUVLWHZKHUHGLIIHUHQWWKUHDWVSUREDELOLWLHVRIRFFXUUHQFHDQGLPSDFWRIHDFKHYHQWKDYH
EHHQLGHQWLILHG,QWKHGDWDFHQWHUVLWHULVNVFRUHWKHWKUHDWVDUHUHSUHVHQWHGZLWKWKHVXELQGH[ LM ZKHUHµL¶UHSUHVHQWVWKHFDWHJRU\
DQGµM¶UHSUHVHQWVWKHVSHFLILFWKUHDWRIWKHFDWHJRU\

7DEOH$([DPSOHRIDGDWDFHQWHUVLWHULVNPHWULFVFRUH

:HLJKWHG
:HLJKW 3UREDELOLW\ 9DOXH 9DOXH 5LVN 7RWDO
:HLJKW :HLJKW ULVN
7KUHDWVDQGYXOQHUDELOLWLHV LM   :  RI 3UREDELOLW\ ,PSDFW ,PSDFW 5/  ZHLJKWHG
:   :  :5 
: : RFFXUUHQFH 32  ,  32 ,  ULVN
5/ : 

8WLOLWLHV          


 7HOHFRPPXQLFDWLRQV    /RZ  +LJK    
 (OHFWULFLW\    0HGLXP/RZ  0HGLXP+LJK    
 2WKHUHQHUJ\VRXUFHV    0HGLXP/RZ  /RZ    
 :DWHU    0HGLXP+LJK  /RZ    
 6HZDJH    0HGLXP+LJK  0HGLXP/RZ    
1DWXUDOKD]DUGVDQGHQYLURQPHQW          
 (DUWKTXDNHV    +LJK  0HGLXP    
 :LQGV    0HGLXP+LJK  0HGLXP+LJK    
 9ROFDQRHV    /RZ  0HGLXP+LJK    
 6QRZ    /RZ  /RZ    
 :LOGILUHV    0HGLXP/RZ  +LJK    
 )ORRGLQJ    0HGLXP/RZ  /RZ    
 $OWLWXGH    /RZ  +LJK    
 7RSRJUDSK\    0HGLXP/RZ  +LJK    
 6XEVRLOVWDELOLW\    /RZ  +LJK    
 8QGHUJURXQGZDWHU    +LJK  /RZ    
 /LJKWQLQJ    +LJK  /RZ    
 $LUTXDOLW\    0HGLXP+LJK  0HGLXP+LJK    
 1RLVH    /RZ  0HGLXP/RZ    
7UDQVSRUWDWLRQDQGDGMDFHQW
         
SURSHUWLHV
 3XEOLFURDGV    +LJK  0HGLXP    
 8QGHUJURXQGWUDQVSRUWDWLRQ    0HGLXP+LJK  /RZ    
 7UDIILF    0HGLXP+LJK  /RZ    
 3UR[LPLW\WRULVN\SURSHUWLHV    /RZ  /RZ    
 0HWURSROLWDQDUHDV    0HGLXP/RZ  0HGLXP/RZ    
 $LUSRUWV6HDSRUWV    0HGLXP/RZ  0HGLXP/RZ    
 9DFDQWORWV    0HGLXP  0HGLXP    
 (PHUJHQF\VHUYLFHV    0HGLXP+LJK  0HGLXP    
 6HFXULW\WKUHDWV    +LJK  0HGLXP+LJK    
 7HUURULVWDWWDFNV    0HGLXP+LJK  0HGLXP/RZ    
2WKHU          
 5HJXODWLRQV    0HGLXP/RZ  +LJK    
 %XVLQHVVLQFHQWLYHV    0HGLXP/RZ  +LJK    
 (QYLURQPHQWDOLPSDFW    0HGLXP/RZ  +LJK    
 5HDOHVWDWH    0HGLXP/RZ  0HGLXP+LJK    
 &RQVWUXFWLRQ    0HGLXP+LJK  /RZ    
 2SHUDWLRQDQGPDLQWHQDQFH    0HGLXP+LJK  0HGLXP/RZ    
 6NLOOHGODERUDQGSRSXODWLRQ    +LJK  0HGLXP/RZ    
 ,QVXUDQFH    0HGLXP+LJK  0HGLXP+LJK    
7RWDOV          

'DWD&HQWHU6LWH5LVNPHWULFVFRUH 



15

You might also like