{"id":5369,"date":"2015-05-12T16:02:24","date_gmt":"2015-05-12T16:02:24","guid":{"rendered":"http:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/?p=5369"},"modified":"2015-05-12T16:02:24","modified_gmt":"2015-05-12T16:02:24","slug":"predicting-rare-events-in-insurance-0512151","status":"publish","type":"post","link":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/predicting-rare-events-in-insurance-0512151\/5369\/","title":{"rendered":"Predicting Rare Events In Insurance"},"content":{"rendered":"As we all know, predictive analytics is a discipline, which is used to identify patterns, or trends that can explain future events or outcomes. Yet, these tools perform abysmally if rare events or situations have not been properly handled within the analytical file. These rare events can be handled in a variety of different ways. For example, if we are building risk models, we may discover that a certain area of the city has a much higher rate of property claims due to fraud. Those records that relate to the fraud cases would then be dropped from the <a href=\"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/predicting-rare-events-in-insurance-0512151\/5369\/\" class=\"more-link\">(more&hellip;)<\/a>","protected":false},"excerpt":{"rendered":"<p>As we all know, predictive analytics is a discipline, which is used to identify patterns, or trends that can explain future events or outcomes. Yet, these tools perform abysmally if rare events or situations have not been properly handled within the analytical file. These rare events can be handled in a variety of different ways. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-5369","post","type-post","status-publish","format-standard","hentry","category-leading-stories"],"_links":{"self":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts\/5369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/comments?post=5369"}],"version-history":[{"count":1,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts\/5369\/revisions"}],"predecessor-version":[{"id":5370,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts\/5369\/revisions\/5370"}],"wp:attachment":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/media?parent=5369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/categories?post=5369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/tags?post=5369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}