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 …
There have been so many news stories and hype about big data, and how it can transform your business, that it begins to sound like something you would find. It is often portrayed as the answer to all things that cause problems for organizations. There are promises that it will identify the right customers …
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 …