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6 Cards in this Set

  • Front
  • Back
Responsibilities of the Actuary regarding usage of data:
 Quote the entire General-Data Quality Issues.
Uses Of External Data & Uses Of Internal Data
 Quote the entire General-Data Sources: Internal vs. External Data
Actuarial Information Systems (AIS’s)
 facilitate reporting rather than processing
 allow hands-on manipulation
 Used for:
 reserves
 trend analysis
 experience monitoring
 ratesetting
 provider/network analysis (utilization, costs)
Data Storage Methods
 On-line – immediately available. Efficient.
 Near line – compressed, but immediately-available. A compromise.
 Off-line – removable disk. Cheapest, but slowest access.
Types of Data Structures
 Sequential File – cheapest but slowest
 Indexed Sequential File – sortable / searchable
 Relational Database – indexed tables. most efficient but most expensive
 Dimensional Database
Considerations in Choosing Data Storage Method and Data Structure
 Desired manipulation of data
 available storage space
 Volume of Data
 frequency of use
 Retrieval Time
 Trade-Off: Ease of Programming vs. Accessibility.