Category: Analysis
-
Applications in the Big Data
A main application of Generalized linear models(GLMs) with respect to big data is in the insurance industry for building ratemaking models. Ratemaking is the determination of insurance premiums based on risk characteristics (that are captured in rating variables); GLMs have become the standard for fitting ratemaking models due to their ability to accommodate all…
-
What is regression Analysis
Regression analysis is likely the first predictive modeling method you learned as a practitioner during your academic studies or the most common modeling method for your analytics group. Regression concepts were first published in the early 1800s by Adrien‐Marie Legrendre and Carl Gauss. Legrendre was born into a wealthy French family and contributed to…