CrowdANALYTIX – Ideation Contest – Warranty Pricing

[This article was first published on We think therefore we R, and kindly contributed to R-bloggers]. (You can report issue about the content on this page here)
Want to share your content on R-bloggers? click here if you have a blog, or here if you don't.

I recently completed an ideation contest on CrowdANALYTIX where the participants had to build an approach towards warranty pricing and fraud detection.

Ideation contests are quite different from the usual data mining contests where the objective is solely to minimize the error (or maximize the accuracy). They are centered more around defining the problem and conceptualizing it with a framework.

In the contest, we had to structure the problem first with respect to the business and then extend it to provide possible analytical solutions for optimizing warranty prices and detecting fraud, including potential data that we would require. Having no experience in either of these areas (warranty and fraud), I tried to draw parallels between insurance pricing and warranty pricing keeping the fundamental differences between them in mind.

Luckily, my approach was chosen to be one of the finalists and was posted on their website.

To leave a comment for the author, please follow the link and comment on their blog: We think therefore we R.

R-bloggers.com offers daily e-mail updates about R news and tutorials about learning R and many other topics. Click here if you're looking to post or find an R/data-science job.
Want to share your content on R-bloggers? click here if you have a blog, or here if you don't.

Never miss an update!
Subscribe to R-bloggers to receive
e-mails with the latest R posts.
(You will not see this message again.)

Click here to close (This popup will not appear again)