Case Study Reporting a Business Model 

Reporting a Business Model  Learning Objectives Covered :  Analysis of results  Communicating the modeling process  Input data selection and analysis  Advance material :  Case Study Overview  Previous (sample) Report  Data (including errors)  Students are asked to update the report 

Comments on Actuarial Reports  No executive summary  No contents  No page numbers  Spelling and grammar  Arithmetic errors  Too much data  Too boring  Unclear  Does not address objectives  Too long 

Report Writing Process For convenience we will break the process into five stages: 1) Define Objectives 2) Organize Data 3) Organize Thoughts 4) Write Report 5) Review Report 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Identify Audience Consider the question asked Convey the message/motivate action 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Results of analysis Previous reports May define expectations of audience Any issues to follow up from previous reports Other material that may be referenced Guidance and/or practice notes Regulations Corporate statements 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Best organized in single file Any additional analysis on results Consistency of results Level of reported analysis Dimensionality of analysis 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Capturing Issues Brainstorm Graph data Develop ratios and calculated measures Highlight original objectives Organize issues 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Make it easy to read/understand Consider format of the report Refer back to the Objectives Charts are helpful Clear Concise Use of color 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Other Considerations Version control Template / style guide Linked tables Disclaimers / confidentiality statement Format of report Distribution of report Internal documentation 

Report Writing Process Organize data Review report Write report Organize thoughts Define Objectives Allow sufficient time for review Have someone else look over report Be open to comments Tips for reviewers 

Data Quality - Discussion  Why are we concerned about data quality?  What is data quality?  Two Categories – checking the raw data and validating processes carried out on that data.  How good does the data need to be?  Materiality – example?  What checks can you do?  How do you deal with problems in the data?  Correction  Communication 

Data Quality Example  Validation of membership rate (last 3 years shown) Membership Class Preferred Count of Membership Id Issue Year Membership rate 1999 2000 2001 9.5 3 10 16 2 20 1883 2204 78 Grand Total 1886 2220 80 

Data Quality Example  Validation of membership rate (last 3 years shown) Preferred membership charged basic rate? Membership Class Preferred Count of Membership Id Issue Year Membership rate 1999 2000 2001 9.5 3 10 16 2 20 1883 2204 78 Grand Total 1886 2220 80 

Data Quality Example  Question : Have fiction book sales decreased since the Internet channel was introduced?  Quick pivot table suggests decrease from 65% to 45%. Count of Membership Id Fiction Sales Method 0 1 Grand Total Direct 7306 13372 20678 65% Internet 5483 4495 9978 45% Grand Total 12789 17867 30656 

Data Quality Example  But if we focus on the fiction sales only, but also look at the other categories… Fiction 1 Count of Membership Id Sales Method Business Children Science Direct Internet 0 0 0 2120 4495 1 1675 1 0 2017 1 1524 1 0 0 1727 1 1388 1 0 1658 1 1263 Grand Total 13372 4495 

Communication Summary  Think of the audience.  Have a structured approach when writing a report.  Ensure you are comfortable with the tools available.  Remember the silly little mistakes.