Data Quality Is a Judgment Call
Assess whether actuarial data are appropriate, sufficient, and reviewed for the assignment.
A clean file is not the same as data suitable for actuarial use. Appropriate Ask whether the data match the risk, period, coverage, and intended decision. The question is not only whether fields are populated; it is whether the fields mean what the analysis assumes they mean. Sufficient Volume matters, but so does relevance. A thousand homogeneous claims may support a basic frequency view better than a million mixed records with shifting definitions. Reviewed A review looks for obvious unreasonable values, missing definitions, breaks from prior data, and relationships that do not make sense. It does not certify that every…
Sign up free — one personalized lesson every day, matched to your role and goals.
Already have an account? Sign in