Data science is a human craft, demanding just as much nuanced judgment and intuitive technique as you’d expect from any skilled artisan.
One of the downsides of using the word “science” in this context is that people think that statistical analysis is just some sort of cut-and-dried laboratory
Analytics solutions designed to handle the volume and variety of data available today also help insurance companies improve catastrophe risk modeling, through which companies determine the exposure of current policies and predict the probable maximum loss (PML) from a catastrophic event.
Life is stubbornly qualitative on every level. But we wouldn’t be modern and scientific if we didn’t try to constantly reduce it to numbers that we can calculate, manipulate and extrapolate.
Even when we’re trying to parse the mess into particular entities and interactions that we can analyze
Companies that insure our road vehicles request information including the driver’s age, gender (no longer legal in Europe), claims history and the ZIP or post code where the vehicle is parked at night. On this narrow data set, insurers construct an analytic model used to assess and price risk. A
Prediction markets are where data scientists will attain superstar status. It’s no coincidence that the current age of the “superstar” in professional sports began in the 1970s, when the legal constraints that had prevented the most accomplished athletes from seeking top dollar on the open market
Well there’s real-time, then there’s real-time, then there’s real-time. As so often with me, this post was first drafted on a plane, and when it comes to in-flight technology, real-time means very real-time. But after that, there’s pretty much a spectrum. Real-time fraud analytics for a credit
I wrote the first draft of this was on the the plane returning from our Roadshow event in Milan a couple of weeks ago, slightly regretting getting up so early to visit the Duomo before heading for the airport. The event - technical briefings and education for customers and prospects, together with