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Implementation and Monitoring

In: Credit Scoring, Response Modelling and Insurance Rating

Author

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  • Steven Finlay

Abstract

One question which should have been addressed during project planning is the mechanism that will be used to calculate model scores and apply decision rules based on the scores people receive. If a model has been constructed as a “proof of concept” or as a standalone research project, this may be a trivial question because nothing needs to be done. A second scenario is when a model is used to generate scores within an off-line environment. Within a target marketing context, for example, a model may have been developed to predict the likelihood of people responding to a marketing communication. The model will be used, perhaps just once, to produce a list of prospects to target. The list is then handed to the organization’s marketing team who upload it to a telephone dialler, e-mail generator or some other contact system. In this type of scenario the model, while important, is not “business critical”. If the production of the list is delayed by a few days, or the model is not quite as good as it could be, then the impact on the business will be relatively small.

Suggested Citation

  • Steven Finlay, 2010. "Implementation and Monitoring," Palgrave Macmillan Books, in: Credit Scoring, Response Modelling and Insurance Rating, chapter 10, pages 244-253, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-29898-9_10
    DOI: 10.1057/9780230298989_10
    as

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