Friday, February 08, 2008

Tips for Doing Analysis

I have been doing job for seven months now, my job mostly consists of doing analysis. Analysis according to me is finding answers, doing research. In my case, finding or deriving meaning from the data and find out situations where it does not make sense.
Being an Actuarial Analyst ( still clearing papers) , i need to find out or i would rather put it like "dig out " wheather there are any misbehavior in the data. Anything that could suggest change in pattern, or may be a scam or malpractice.
The way that suited me the most is asking questions. What should be this ratio? Why it is an amount x and not y? Who effects this ratio the most?
When you analyse large sets of data you tend to come across hundreds of questions like this. In my case most of the questions are automatically gets sorted out when you dig into the data or enquire elsewhere. Some left unanswered. These some are the ones which if you can answer can make you a very good analyst.
One more thing , in case you did not encounter enough questions, the best way is to form different sets of ratio's . Ratios between different parameters, Ratios between different ratios. According to my small experiance , i am sure you will definately have new questions which you have not thought out before.


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