Physical Sciences and Mathematics Commons^™

Decision Trees: Predicting Future Losses For Insurance Data, Amanda Lahrmann

Williams Honors College, Honors Research Projects

Big data is a term that has come to the spotlight for companies within recent years. Data analysis and business intelligence have become prominent sectors of companies and agencies. But what is big data? How has it impacted large companies and agencies? Why must it be embraced?

The best way to approach utilizing a big data set is to establish a question to answer. For this data set, the question that must be answered is “What variables cause a loss to occur?” To answer this question, first, we must understand what is meant by a “loss”, and take a look …