Insurance is one of the largest industries globally, in terms of investments, returns as well as its social role in covering risks. As the insurance sector works on investment and returns and also is about risk management, needless to say it has tons of data available, and traditionally uses statistical models for risk assessment and deciding premiums and so on. This...
Majority of the machine learning courses assume the availability of labeled training data as it’s crucial for supervised machine learning models. But, labeled data rarely exists in the real world. We need to collect labels and labeling data is hard and costly, without labels there is no model. So what’s the solution? Active Learning: We need to build a model to label...
It was the first day at high school. The class was full of students from different parts of the city. A few had moved to the city from nearby towns. Except for a few, who were with me in the primary school, most others were new faces. Naturally the day started with the round of introductions. The intro contained lots...
The key criterion for any business to be successful is knowing your customers well. Knowing them well even before they become your customers. The organizations work hard to identify their target audience. Customer segmentation is very useful in Taking the decision about where to place your advertisements, what content to use, to use the marketing budget effectively Defining the customer...
This is a story from the time when I was very young. We were back from a day long school picnic, and everyone was busy sharing the memories of the event with friends. No one was really in the mood of attending the classes. Our teacher, maybe, was feeling the same, or at least realized it. “Let us start a...
The data always tell a story, it needs to be heard correctly and without bias. Many a times the decision makers want the data to corroborate the conclusion that they have already reached. Some others tend to just discount the outcomes, as “Ah this is obvious or just common sense. We don’t need Big data to know this.” Both these...
Early this morning, I was sitting on the balcony, thinking about choosing the topic for today. The atmosphere was very pleasant, trees were swaying with the cool breeze, and birds were chirping and jumping around. Suddenly I noticed a light-colored butterfly flying around swiftly from place to place. I don’t know what it was looking for, but it continued...
The insurance industry has always relied on historical data to assess potential risks. With the advent of digital technologies, the industry has a lot more touch points with the customer and processes that can be tapped into to gather a lot of data. Along with historical data, the insurers also have access to a huge amount of real-time data. Both...
A database transaction is a sequence of multiple operations performed on a database, and all served as a single logical unit of work. If the transaction is committed, all of the operations are successfully committed to the database. If the transaction is rolled back, none of the operations are committed to the database. In Entity Framework, the SaveChanges() method is...
It was a very busy evening at the beach. After the day's work, I was relaxed and decided to spend some time watching the buzz around. A few kids were busy building a sand castle. They were so engrossed and bothered little about what was going around. A few other kids were playing football on the sands, focusing on...
