Aida 181 Study guides, Class notes & Summaries

AIDA 181 - Big Data Analytics for Risk and Insurance Exam Prep| Questions and Verified Answers| 100% Correct (Latest 2023/ 2024 Update) Q: machine learning Answer: AI in which computers continually teach themselves to make better decisions on previous results and new data Q: Artificial intelligence Answer: compute processing/output that simulates reasoning or knowledge Q: why do tech companies use AI Answer: Tech companies use this to "Solve problems or to i...

AIDA 181 Questions with Correct Answer1.

AIDA 181 Questions with Correct Answer

Insurers can benefit from - Answer-A framework they can use to approach problems through data analysis The important first step in a decision-making model is to - Answer-Define the problem Which one of the following is a way that insurers and risk managers can use data science to improve their results through data-driven decision making? - Answer-Discovering new relationships in data The first step in the data mining process is to - Answer-Understand what a business wants to achieve Which ...

big data - Answer-sets of data that are to large to be gathered and alayszed by traditional methods 5 Vs of big data - Answer-volume variety velocity veracity value volume - Answer-far larger (consumes more storage space) than traditional data stores variety - Answer-much of the data exists in multiple unstructured (this is defined later) formats velocity - Answer-speed at which the data arrives and the rate of evolution veracity - Answer-the completeness and accuracy is far less tradit...

AIDA 181 (Latest 2023/ 2024 Update) Big Data Analytics for Risk and Insurance Exam | Questions and Verified Answers| 100% Correct| Grade A Q: Computer output simulating human reasoning best describes which one of the following? Select one: A. Artificial intelligence B. Chatbots C. Machine learning D. Deep learning Answer: A Q: Annette is a claims adjuster with Midwestern Insurance (MI). MI recently invested in and established robotic process automation (RPA) in many of its...

AIDA 181 Big Data Analytics for Risk and Insurance Exam Prep| Questions and Verified Answers| 100% Correct (New 2023/ 2024 Update) QUESTION metadata Answer: data about the data that provides context for analyzing transaction facts with efficient structures for grouping hierarchical information QUESTION what type of data helps prevent data quality issues? Answer: metadata QUESTION what are some data mining techniques Answer: classification ...

What is exploratory data analysis? - Answer-Approach to understanding data before modeling. What techniques are used in exploratory data analysis? - Answer-Charts and graphs to show data patterns and correlations. What is a scatter plot? - Answer-Two-dimensional plot showing relationship between two attributes. What is a bubble plot? - Answer-Scatter plot with bubble size representing a third attribute. How can exploratory data analysis help with a business problem? - Answer-Provides basic ...

AIDA 181 (New 2023/ 2024 Update) Big Data Analytics for Risk and Insurance Exam | Questions and Verified Answers| 100% Correct| Graded A QUESTION Often, machine learning Select one: A. Reveals relationship and trends not found through traditional ratemaking analysis. B. Is not appropriate for smaller insurers, which do not have access to large amounts of data. C. Implements a flat rate increase for all of an insurer's homeowners policies. D. Is simply a ratio that measures loss ...