Abstract
Motivation: Provide an introduction to data quality and data management directed at actuaries.
Method: Expand on the concepts in Actuarial Standard of Practice No. 23 (Data Quality), then introduce practical methods that actuaries, actuarial analysts, and management can apply to improve their situation, with references for more information.
Results: Information quality is about more than coding data: processes affect quality. There are many principles and practices an actuarial department can employ immediately to improve the quality of the information it deals with. Actuaries have a unique role to play in the bigger arena of improving their organizations’ information for decision making and it is in their interests to do so.
Conclusions: What every actuary should know about data quality and data management.
Availability: Code for creating Box Plots in Excel is found here.
Keywords: Actuarial Systems; Data Administration, Warehousing and Design; Data Quality; Data Visualization; Exploratory Data Analysis; Software Testing.
Method: Expand on the concepts in Actuarial Standard of Practice No. 23 (Data Quality), then introduce practical methods that actuaries, actuarial analysts, and management can apply to improve their situation, with references for more information.
Results: Information quality is about more than coding data: processes affect quality. There are many principles and practices an actuarial department can employ immediately to improve the quality of the information it deals with. Actuaries have a unique role to play in the bigger arena of improving their organizations’ information for decision making and it is in their interests to do so.
Conclusions: What every actuary should know about data quality and data management.
Availability: Code for creating Box Plots in Excel is found here.
Keywords: Actuarial Systems; Data Administration, Warehousing and Design; Data Quality; Data Visualization; Exploratory Data Analysis; Software Testing.
Volume
Winter
Page
136-195
Year
2008
Categories
Actuarial Applications and Methodologies
Data Management and Information
Actuarial Systems
Actuarial Applications and Methodologies
Data Management and Information
Data Administration, Warehousing and Design
Actuarial Applications and Methodologies
Data Management and Information
Data Quality
Financial and Statistical Methods
Statistical Models and Methods
Data Visualization
Financial and Statistical Methods
Statistical Models and Methods
Exploratory Data Analysis
Publications
Casualty Actuarial Society E-Forum
Documents
