The Actuaries’ Analytics Cookbook: Recipes for Data Success

Have you just started your data analytics journey or interested in exploring more techniques to upskill and accelerate your role? A brand new, one-stop, off-the-shelf (no pun) Actuaries’ Analytics Cookbook has just been released to help you experiment with new techniques. Jacky Poon, co-producer of the Cookbook, details its purpose and content.

What is the purpose of the Cookbook?

The purpose of the Actuaries’ Analytics Cookbook is to provide practical code examples, primarily in R and Python, for solving common and emerging problems that members of the Actuaries Institute may encounter at work. It is intended to be a resource to refer to – whenever you encounter a new problem, check the Cookbook to see if a recipe can help you get started quickly.

Access the Actuaries’ Analytics Cookbook

 

What are the top three things that will interest those already involved in Data Analytics?

The Cookbook:

  1. Contains diversity in analytics techniques for solving common problems. This can be an inspiration for new ideas when solving a problem

  2. Expedites problem solving, with foundational existing code ready to be tailored

  3. Is multi-disciplinary with examples from different practice areas and can aid in professional development.

 

What are the top three things that will appeal to analytics with no prior knowledge of data analytics?

  1. The Cookbook includes Introductions to R and Python section which provides a great place to start for members who are new to these programming languages

  2. ‘Error in if ; object not found’ – Some members may find tackling a problem in Python or R daunting. The Cookbook provides detailed, worked use cases, and offers a hands-on learning experience

  3. The code examples included in the Cookbook have been tested and reviewed by practitioners so readers may find them to be more trustworthy and reliable compared with ‘random online solutions’.

 

How does this Cookbook fit within the Data Analytics Applications (DAA) course?

Generally, recipes in the Cookbook can help students practice the techniques learnt in the course. It complements the study material. Many of the notebooks from the Data Analytics Applications subject have been shared as recipes in the Cookbook. If you find these notebooks interesting and want to learn more about the techniques they employ, keep your eyes peeled for a CPD offering of Data Analytics which will be available to members in the second half of 2022.

Who was involved in the creation of this Cookbook?    

Amanda Aitken, Ean Chan, Jin Cui, Charlie Jiang, Kriti Khullar, Grant Lian, Henry Ma, Patrick Reen and Aidan Sussman and myself co-produced the Github and various materials which were collated from the Data Analytics Applications subject, Analytics Snippets from Actuaries Digital, and the YAP-YDAWG R presentations.

(From L-R) Amanda Aitken, Ean Chan, Jin Cui, Charlie Jiang, Kriti Khullar, Grant Lian, Henry Ma, Patrick Reen and Aidan Sussman.


Who can be contacted if someone needs help with the Cookbook?

Please consider creating an Discussion Topic on Github, or if you believe that there is an update needed to the recipes, file an Issue.

“It is also a great platform for members to share their exciting data analytics projects and get started on problems that have probably been faced by other members of the Actuaries Institute.”

Jacky Poon, Convenor of the Young Data Analytics Working Group and co-producer of the Actuaries’ Analytics Cookbook.

Access the Actuaries’ Analytics Cookbook

 

CPD: Actuaries Institute Members can claim two CPD points for every hour of reading articles on Actuaries Digital.

Comments

Image of Timothy Lam
Timothy Lam says

30 November 2021

This is a great initiative and thank you to all who did this! Already cloned a version down and will get my hands dirty during downtime in December!

Image of Amanda Aitken
Amanda Aitken says

10 December 2021

Jacky - I'm not sure why your name isn't on the list of those involved in the creation of the cookbook - you did most of the work!!


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