Gathering and Preparing Data

Steven Finlay

Chapter 4 in Credit Scoring, Response Modeling, and Insurance Rating, 2012, pp 89-113 from Palgrave Macmillan

Abstract: Abstract If you have done any data analysis or modeling as part of a statistics course at university, then you were probably given a file containing a set of predictor variables and a dependent variable. All you had to do was read the data into the modeling software and then worry about which data analysis and modeling procedures to apply. You probably didn’t have to give any thought to where the data came from or how it was prepared. In practice, it is rare for data to be provided in such a readily usable format. The data required for model building, more often than not, is scattered across multiple databases/data tables/IT systems and held in a variety of different formats. Work is required to extract relevant data from each source, and then match it together to produce a single data set that can be used for data analysis and model construction.

Keywords: Text Mining; Insurance Rate; Credit Scoring; Meaning Number; Policy Table (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-03169-3_4

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DOI: 10.1057/9781137031693_4

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