This unique reference weaves together the principles and theoretical models of parallel computing with the design, analysis, and application of algorithms for solving statistical problems. After a brief introduction to parallel computing, the book explores the architecture, programming, and computational aspects of parallel processing. Focus then turns to optimization methods followed by statistical applications. These applications include algorithms for predictive modeling, adaptive design, real-time estimation of higher-order moments and cumulants, data mining, econometrics, and Bayesian computation. Expert contributors summarize recent results and explore new directions in these areas. Its intricate combination of theory and practical applications makes the an ideal companion for helping solve the abundance of computation-intensive statistical problems arising in a variety of fields.