In this clip, Adi Hazan from Analycat explains a problem they have addressed in data analysis: the importance of not just absorbing data, but also asking questions. He describes their ability to analyze all possibilities and recognize gaps in knowledge. Using an insurance company as an example, he illustrates how underwriters specialize in certain types of risks, such as power stations, based on their profitable history. These underwriters’ expertise is not reflected in the data, especially regarding excluded individuals.
He points out that while modeling human decisions, it’s crucial to consider what data is missing. They have developed a method to identify and inquire about missing data points, which he considers a significant breakthrough. This approach allows them to ask for information not initially provided, helping to address situations where there is no data, a scenario he likens to responding to a fire engine’s absence of information.
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