O'Reilly on Data

MAY 18, 2020

And last is the probabilistic nature of statistics and machine learning (ML). Because statistics: Last is the inherently probabilistic nature of ML. Materiality is a widely used concept in the world of model risk management , a regulatory field that governs how financial institutions document, test, and monitor the models they deploy.

Risk 357

Risk Modeling Data Processing Software 357

Smart Data Collective

NOVEMBER 3, 2021

We have talked extensively about the role of AI in investment management and insurance. It refers to underwriting, customer onboarding, document management, analysis, and statistics. There is no denying the reality that artificial intelligence is setting new standards in the financial sector. The banking industry is among them.

Software 120

Software Data-driven Interactive Insurance 120

O'Reilly on Data

OCTOBER 11, 2022

Selenium , the first tool for automated browser testing (2004), could be programmed to find fields on a web page, click on them or insert text, click “submit,” scrape the resulting web page, and collect results. But the core of the process is simple, and hasn’t changed much since the early days of web testing. What’s required?

Data Integration 286

Data Integration Insurance Dashboards Modeling 286

DataRobot Blog

APRIL 29, 2022

when the Federal Deposit Insurance Commission (FDIC) announced its adoption of Supervisory Guidance on Model Risk Management , previously outlined by the FRB and OCC. In 2017, additional regulation targeted much smaller financial institutions in the U.S. The FDIC’s action was announced through a Financial Institution Letter, FIL-22-2017.

Risk 111

Risk Modeling IT Risk Management 111

CIO Business Intelligence

FEBRUARY 3, 2023

The ability to suck words and numbers from images are a big help for document-heavy businesses such as insurance or banking. IBM Cloud Pak for Business Automation , for example, provides a low-code studio for testing and developing automation strategies. AI tools provide optical character recognition for documents.

Data-driven 145

Data-driven Interactive Enterprise Statistics 145

Smarten

JULY 10, 2018

Independent Samples T Test: What is the Independent Samples T Test Method of Analysis and How Can it Benefit an Organization? Paired Sample T Test: What is the Paired Sample T Test and How is it Beneficial to Business Analysis? Use Case(s): Are men more satisfied with their jobs than women?

Analytics 40

Analytics Forecasting Statistics Sales 40

Rita Sallam

APRIL 2, 2023

Dataiku Dataiku chose to focus on flood risk by geography and flooding’s economic impact on commercial insurance policies and claims. Southern Florida’s Atlantic coast has increased flood risk, leading to more and costlier flood insurance claims in areas like Homestead and Miami compared to West Palm Beach and Port Saint Lucie.

Optimization 52

Optimization Machine Learning Insurance Risk 52

O'Reilly on Data

MARCH 23, 2023

It’s by far the most convincing example of a conversation with a machine; it has certainly passed the Turing test. And it can look up an author and make statistical observations about their interests. The last time I had to deal with an insurance issue, I’m not sure I ever talked to a human, even after I asked to talk to a human.

IT 258

IT Modeling Testing Risk 258

IBM Big Data Hub

APRIL 18, 2024

LLMs like ChatGPT are trained on massive amounts of text data, allowing them to recognize patterns and statistical relationships within language. Image (55%): Gen AI can simulate how a product might look in a customer’s home or reconstruct an accident scene to assess insurance claims and liability. What are the types of AGI?

Cost-Benefit 91

Cost-Benefit Modeling Manufacturing Interactive 91

AWS Big Data

SEPTEMBER 13, 2023

Finally, by testing the framework, we summarize how it meets the aforementioned requirements. Solution overview Let’s test the ODP framework by replicating data from 18 operational tables to a data lake and creating source-aligned datasets with 10-minute refresh cadence. This concludes the demo.

Data Lake 93

Data Lake Data Processing Metadata Snapshot 93

Occam's Razor

APRIL 30, 2018

Can we test different spending levels in that market? I cannot stress enough that these results can be positive (for the ad business and, in this case, the sales of insurance products). Blasting ads on TV does cause a teeny tiny micro percentage to buy insurance – a fact provable via Matched Market Tests, Media Mix Models.

Advertising 117

Advertising Metrics Measurement Insurance 117

Smart Data Collective

SEPTEMBER 15, 2019

Hussain of Atos Spain published a white paper on the growing relevance of big data in the finance and insurance verticals. It also features a search function conveniently located at the top of the screen that allows you to access stock pages, as well as produce charts and important market statistics.

Big Data 86

Big Data Machine Learning Risk Insurance 86

Domino Data Lab

JULY 28, 2021

Data science is a field at the convergence of statistics, computer science and business. Data science is an interdisciplinary field within STEM that combines math and statistics, computer science, and business acumen to find patterns in complex datasets that can be used to improve decision making. What are Data Scientists?

Data Science 45

Data Science Machine Learning Statistics Deep Learning 45

Smarten

JUNE 21, 2018

Time series forecasting methods are used to extract and analyze data and statistics and characterize results to more accurately predict the future based on historical data. Business Problem : Insurance claim manager wants to forecast policy sales for next month based on past 12 months data. 2) Double Exponential Smoothing Use Case.

Forecasting 40

Forecasting Enterprise IT Predictive Modeling 40

Depict Data Studio

APRIL 16, 2019

Long ago, I had majored in psychology so I could take as many research methods and statistics courses as possible. I left those research labs and found a consulting job with health insurance. Avoid red-green color combos, and then test your drafts at [link]. However, less than a year later, I needed to go to the doctor.

Visualization 56

Visualization Reporting Statistics Dashboards 56

Ontotext

APRIL 3, 2024

For example, when I want to insure some property and want to find out if the CEO has been involved in crime. ” So, maybe they are open to some testing and exploration, but when it’s prime time, larger organizations won’t run the risk of putting something untested. These are not statistical inferences. It’s open.

Technology 59

Technology Risk Digital Transformation Measurement 59

Domino Data Lab

AUGUST 20, 2019

The problem is that a new unique identifier of a test example won’t be anywhere in the tree. Feature extraction means moving from low-level features that are unsuitable for learning—practically speaking, we get poor testing results—to higher-level features which are useful for learning. Separate out a hold-out test set.

Testing 68

Testing Modeling Interactive Measurement 68

Jen Stirrup

OCTOBER 21, 2019

For the leaders, the simplest option can simply be doing nothing, but let someone run around burning themselves out so that eventually it becomes a test of patience and stamina, rather than a test of what is right and wrong. Office for National Statistics (2015) Gender Pay Gap. & Kamenou-Aigbekaen, N.

Data-driven 49

Data-driven Marketing Testing Management 49

Birst BI

OCTOBER 30, 2018

To generate accurate probabilities of future behavior, predictive analytics combine historical data from any number of applications with statistical algorithms. With the source data now fully integrated into an analytic model, add and test different predictive algorithms. Add the predictive logic to the data model.

Predictive Analytics 73

Predictive Analytics Descriptive Analytics Analytics Metrics 73

Andrew White

JANUARY 11, 2021

As such banking, finance, insurance and media are good examples of information-based industries compared to manufacturing, retail, and so on. Storytelling is a nice one to use early on to test the approach. In general, I would offer that information-based industries tend to be more advanced than non-information-based industries.

Data Analytics 52

Data Analytics Analytics Data-driven Finance 52