The Present & Future of Data Analytics - YAP Melbourne
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1 The Present & Future of Data Analytics - YAP Melbourne Genevieve Hayes Analytics & Actuarial Manager VMIA Peter Stuchbery Owner Nature Sheena Wong Banking Consultant Quantium Stacie Haber Insights & Analytics Leader Mercer 20 July 2017
2 Actuaries Institute Data Analytics Vision: That Actuaries are recognised as experts in data analytics not only in financial services but in all industries. That Actuaries are sought after for their trusted insights and commercial strategies. Actuaries Institute Data Analytics Mission: To support and promote Actuaries working in data analytics by providing lifelong learning opportunities, thought-leadership and promoting our expertise in data analytics to business and government leaders. Areas of focus: For the Data Analytics Working Group this year and progress to date: Education Conferences: holding our third Data Analytics 1 day seminar on 19 September Study Groups: running 2 Data Science MOOC (Massive Open Online Course) study groups one currently running (Exploratory Data Analysis), one to start later this year (Reproducible Research). Kaggle: running our third Kaggle competition later this year Education strategy: supporting Institute s wider Education Review by providing input about what Data Analytics material should be covered in both core and elective components of an actuarial education. Community LinkedIn: set up a LinkedIn group in 2015 ( Data Analytics Community of Actuaries ) encouraging membership of this group and regular posting of interesting new content Microsite: Data Analytics Microsite launched in late 2016 lots of useful content for members wanting to find out more about Data Analytics Insights: hosting a number of Data Analytics related Insights sessions, including one next week in Melbourne via An Actuary, A Data Scientist and a Statistician walk into a bar Actuaries Digital: production of new Data Analytics related content for our online magazine Engagement engaging with others such as recruiters, international actuarial bodies and universities to explore how to promote actuaries for data analytics roles, and to keep up to date with what others are doing in the area of data analytics education. Brand looking for ways to continue to build the brand of actuaries working in data analytics (such as through publication of external articles, and appearances at external conferences) Broader Institute Strategy linking in with other practice committees to keep each other up to date on progress in Data Analytics areas and providing Data Analytics content for Institute events such as the Actuaries Summit
3 The Present and Future of Data Analytics Genevieve Hayes Young Actuaries Program - 20 July 2017
4 Why you should learn analytics 4
5 1. You are not a beautiful, unique snowflake Tyler Durden ( Fight Club ) 5
6 2. Every skill you acquire doubles your odds of success Scott Adams 6
7 3. Change before you have to Jack Welch 7
8 Analytics and Actuarial: The Best of Both Worlds 8
9 THE current challenge in the analytics field Analyst In reality, there is a disconnect between these groups in the business. Consultant Tactical Application The types of people that are able to fulfil this purpose are in short supply! Strategic Vision 9
10 TO not become a back room analyst, it is essential to be able to traverse this Analyst continuum Consultant Optimum Zone A truly great analyst can 1. Fully comprehend the business objectives and implications of the required analytics 2. Can translate these objectives into the correct analytical methods, using an optimal set of data 3. Be able to convey the findings in an accessible manner, aligning against the original objectives. 10
11 IN THE END, TECHNIQUES AND APPLICATION ARE THE HYGIENE FACTORS FOR THE GREAT ANALYST. WHAT SETS A GREAT ANALYST APART IS IN THEIR ABILITY TO WORK EFFECTIVELY WITH THE BUSINESS.
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