Statistical Contributions to the Complete Analytical Process

• Activity Number: 496
• Type: Topic Contributed
• Date/Time: Wednesday, August 3, 2011 : 10:30 AM to 12:20 PM
• Sponsor: Section on Statistical Consulting
• Author(s): Stephanie Palermo*+
• Companies: Capital One Financial
• Keywords: engineering ; financial ; business ; innovation

Abstract

The use of statistics in business has grown tremendously in the past decade. Not only are increasingly more industries and companies employing statisticians, but the application of statistics in those industries is broader and deeper than ever. No longer is statistics used solely for simple analyses or predictions. For many companies, statistical methods are now a part of every step of analysis, including data exploration, test design, forecasting, and monitoring. The process by which discovery occurs as a comprehensive set of advanced analytics and statistics can be described as statistical engineering. Capital One has delivered advances in innovation through the exploration and use of powerful tools and methods. This allows for a more productive partnership with our internal clients and business partners. This talk will focus on the advances made at Capital One and across the industry, and the expanded use modern statistical applications played in those advances.