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Abstract:
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Over the years, the financial industry has leveraged various statistical tools in many areas. How can statisticians select the appropriate models, effectively communicate the analysis and results, persuade and influence the decision makers? Given the recent success of statistical learning and big data, such questions have become more important and relevant. The author makes a few suggestions on good practices of statistical application and communication in financial industry based on examples. 1. Listen and understand the background of the projects 2. Adopt robust models that make economic sense for analysis 3. Deliver the results in an intuitive way
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